Video: cashing in on foreclosures

A new scheme is being proposed in the US that could see foreclosed homes become a commodity.

Companies such as Fannie Mae and Freddie Mac have thousands of foreclosed homes, and a pilot programme is hoped to be in place by the end of the year to sell off the properties.

Including the figures from the Federal Housing Association, there are nearly 250,000 foreclosed properties in America. Demand for foreclosures is increasing, and transactions are currently exceeding supply, but foreclosures were up 20 per cent in August, and the US property market needs to find a way to sell the stock so the market can recover.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/11/cashing-in-on-foreclosures/