A total of 188,748 homes in some stage of the foreclosure process sold in the third quarter, down 31% from a year ago and 25% from the previous quarter, according to RealtyTrac, an online foreclosure marketplace.
Many lenders froze REO sales in October to review affidavits that were allegedly signed without a review of the documentation. Even though those banks have refiled affidavits and mortgage giants Fannie Mae and Freddie Mac cleared real estate agents to resume marketing REO, demand for these homes could still wane in the months ahead.
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