New HUD map identifies REO properties

New HUD map identifies REO properties
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) launched a new web-based mapping tool that shows the location of all foreclosed properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA).

Government-owned foreclosed homes account for almost half of all real estate-owned (REO) properties in the U.S., and the new mapping tool provides useful information for Realtors, local communities, homebuyers and investors.

“In this case, a picture is worth more than a thousand words,” said HUD Secretary Shaun Donovan. “This new mapping tool gives local communities a much clearer picture of where these foreclosed properties are so they, along with private investors, can focus their energies in especially hard-hit neighborhoods.”

In addition to mapping individual properties, the portal provides listing info by neighborhood, with details such as list date, price, number of bedrooms and bathrooms. It also includes links to the government agency that holds the listing – Homepath (Fannie Mae), Homesteps (Freddie Mac), and HUD Homestore (FHA). The tool allows users to search by specific address or neighborhood.

To use the map, visit HUD’s website portal.