Fannie Mae foreclosure starts sees reduction in the third quarter of 2009
Email Bookmark Share
PrintThe Federal Housing Finance Agency announced that for the third quarter of 2009, Fannie Mae and Freddie Mac reduced the number of foreclosure starts by 45,000 compared to the second quarter of 2009. This is a 15% reduction in foreclosure starts.
The third quarter foreclosure starts of 254,168 is still higher than any of the quarters prior to the second quarter.
The main reason for the reduction in foreclosure starts in the third quarter was the foreclosure prevention actions taken by Fannie Mae and Freddie Mac.
Foreclosure starts for third quarter 2008
Foreclosure starts for the third quarter of 2008 was 132,909.
Foreclosure starts means the total number of loans referred to an attorney to initiate the legal process of foreclosure during the measured period, in this case the third quarter of 2009. These are loans measured as not being in foreclosure in the previous period or quarter, but referred to foreclosure in the current quarter.
