One Foreclosure Every 90 Seconds

For the first three months of 2010 FNMA and Freddie Mac took over a home every 90 seconds and held 163,828 homes in inventory needing to be sold.  Taxpayer costs for both are now at $146 Billion and the Congressional Budget Office estimates the total could reach $389 Billion.  Here is a link for the full article:  http://www.nytimes.com/2010/06/20/business/20foreclose.html

With this type of inventory and foreclosures continuing to increase it is difficult to understand the reluctance of both FNMA and Freddie Mac to sell to investors or to be more reasonable with short sale offers.