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REDC Sells 700+ Foreclosed Homes in Arizona and Minnesota

Real Estate Disposition Corporation, LLC (REDC), a national real estate auction company, recently announced that it sold 713 homes for $68.3 million at its auctions in Arizona and Minnesota. Those auction results bring REDC’s 2008 production to 16,454 foreclosed homes sold for $2.

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California Home Sales Up in October

An estimated 42,293 houses and condos – including both existing and new – were sold in California last month, according to the latest report from research firm MDA DataQuick. That figure is up 4.

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Fannie, Freddie Suspend Foreclosures

Fannie Mae and Freddie Mac announced this afternoon that they are suspending all foreclosures on mortgages that the two companies own. Both companies have ordered their national networks of mortgage servicers and foreclosure attorneys to halt all foreclosure sales and evictions involving occupied single-family properties.

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Credit Unions Propose TARP Funding for Mortgage Relief Program

The National Credit Union Administration (NCUA) has unveiled a plan to refinance billions of dollars of at-risk mortgages using funding from the Treasury’s Troubled Asset Relief Program (TARP). The initiative is aimed at helping credit union members preserve their homeownership by funneling federal loans to credit unions through the Central Liquidity Facility (CLF), the lending arm of the NCUA, the administration explained in a press statement earlier this week.

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