CHICAGO - A recent report from the Federal Housing Finance Agency's Office of Inspector General showed the federal mortgage provider Fannie Mae and Freddie Mac had almost 180,000 foreclosures in their inventory and related expenses of $8.5 billion at the end of 2011. Almost 40 percent of those properties are in five states.
Illinois is one of those top five states, with 12,471 Fannie- and Freddie-owned properties.
More on Illinois' dismal foreclosure situation and the feds' failure to reach those who may qualify for federal assistance in foreclosures is HERE in the Chicago Tribune.
