The number of Freddie Mac “foreclosure alternatives” completed in the first half of 2010 increased 123% from the same period in 2009, but for all its efforts, the government-sponsored enterprise (GSE) is still taking on record numbers of housing inventory.
Year-over-year, Freddie’s single-family portfolio increased 84.2% and the multifamily portfolio doubled. Monday morning’s quarterly results reveal a 655% increase in forbearance agreements, where distressed homeowners simply get more time to begin paying back the mortgage. These forbearance agreements numbered 21,673 at the end of the first half of 2010, up from 2,869 at the end of the first half of 2009
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