Fannie, Freddie, & FHA REO Properties

Calculated Risk has an excellent chart showing the continual growth in REO (real estate owned) properties at Fannie Mae, Freddie Mac, and the FHA.   The foreclosures clearly have  not yet peaked.  I’ve also heard on the street that the loan modification program is not helping as many people as the government had hoped.  It appears that has just merely delayed the inevitable foreclosures.