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“At what level of foreclosures would you consider a bottom?”
Very easy question. When they simply stop rising and fall in a 6 month timeline. The existing foreclosures alone would stall any price rises.
“Through who, FMAE, FMAC, OFHEO, FHA?”
HUD will be taking the houses off banks, they did it in the past and they will in the future. This is a given as Congress is already talking about it.
Read about the last bailout from Fannie: http://www.fanniemaefoundation.org/programs/hpd/pdf/hpd_0101_ely.pdf
