ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 09/02/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL –  09/02/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL –  09/02/2011 list has  been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These  are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are  ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

The federal agency overseeing Fannie Mae and Freddie Mac filed lawsuits Friday against 17 financial institutions in an attempt to recover losses from risky mortgage investments.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

The lawsuits were filed against many of the nation’s largest Wall Street and financial firms, including Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase.

In the complaints, the Federal Housing Finance Agency contends the institutions misrepresented the quality of the investments’ underlying loans.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN YOUR AREA

“Based on our review, FHFA alleges that the loans had different and more risky characteristics than the descriptions contained in the marketing and sales materials provided to the enterprises for those securities,” the agency said in a press release.

Fannie Mae and Freddie Mac, which were taken into conservatorship by the federal government during the 2008 financial crisis, are the largest sources of funding for the U.S. housing market.

They buy mortgages from lenders and either hold them on their books or bundle them into securities. The companies also have bought mortgage-backed securities issued by other institutions.

The agency, which says it is charged with protecting the mortgage finance companies’ assets on behalf of taxpayers, is seeking damages and penalties.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 09/02/2011
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