Real Estate News: Resales Drop, Fannie Debate Heats Up, Octomom in Foreclosure Trouble

Here’s a look at today’s new from the WSJ and other sources: Home Resales Drop (WSJ): Sales of existing homes fell 0.6% in February, a third decline in a row, as the median home price was down 1.8% from a year earlier. Plan to Reshape Mortgage Market (WSJ): Fannie Mae and Freddie Mac won’t be allowed to return to a precrisis structure that rewarded shareholders with big profits for years but saddled taxpayers with massive losses. Fannie, Freddie’s Elusive Number (WSJ): So what is the elusive number? It is the amount of first mortgages held or guaranteed by Fannie Mae and Freddie Mac that have second mortgages behind them. White House Prods Banks to Modify Loans (WSJ): The Obama administration is discussing with banks a change in its foreclosure-prevention program that would encourage lenders…(read more)

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