Lots of thrilling and chilling foreclosure news out today. California Attorney General Kamala Harris is asking the federal government to suspend all California foreclosures "and consider reducing mortgages for those at-risk homeowners who have loans backed by Fannie Mae and Freddie Mac," reports the AP. Meanwhile, Fannie will launch a pilot program to sell about 2,500 foreclosed properties to investors, which the buyers will be required to rent out: "Investors and nonprofit groups will be able to bid on homes in eight locations, including Los Angeles and Riverside, Calif., which account for around 23% of the units being marketed." [AP/WSJ]
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