Real Estate Foreclosures and Mortgage Defaults

Fannie Mae acquired 145,617 properties through foreclosure last year and spent about $267 million to maintain them. The mortgage finance company also spent $182 million to repair about 38,000 properties. In the fourth quarter, mortgage loans in foreclosure rose to 4.58 percent of all mortgages; and mortgage loans with payments more than 90 days overdue increased to 5.09 percent, according to the MBA.

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