Shrinking the foreclosed real estate glut
The mortgage settlement between leading lenders and most state attorneys general isn’t going to fix the nation’s residential real estate mess. That can’t be cleaned up with any single plan or settlement. Ideas that help restore a normal home sales market will have the greatest impact on the most people and - eventually - the entire economy. A new plan to promote bulk sales of foreclosed homes held by Fannie Mae and Freddie Mac could do a lot to help.