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www.wingspanportfolioadvisors.com

Detroit Officials Fuming Over Foreclosure Sales

Pace and price of Fannie, Freddie sales at issue

Aug. 15, 2011


Officials in Detroit are fuming over the pace and prices of foreclosure sales by Fannie Mae and Freddie Mac.

An analysis of the area indicates that properties are being unloaded at about a third less than market value.

While the companies say they are minimizing losses and reducing the time that vacant properties are on the market, local officials call the strategy "unconscionable," "unacceptable" and a "disaster."

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Servicing News | Servicer Ranking | Delinquency Statistics
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www.wingspanportfolioadvisors.com

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