Atlanta Real Estate Blog

The US Department of Housing and Urban Development (HUD) launched a web-based mapping tool that displays the geographic location of all foreclosed properties owned by the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac. The foreclosures owned by these organizations account for nearly half for all real estate owned (REO) properties in the country.   According to HUD, this tool will be particularly important to communities participating in the Neighborhood Stabilization Program (NSP).  Users can search a specific address or neighborhood and obtain an estimated delinquency count based on HUD analysis for local NSP program activities.

In addition to mapping individual properties, the portal provides consolidated listing for user-defined neighborhoods with details such as list date, price, number of bedrooms, and bathrooms.  It also includes links to Fannie Mae’s Homepath, Freddie Mac’s Homesteps, and the HUD Homestore to connect potential buyers to the acquisition process. The REO Portal makes it easier for buyers to find and make offers on foreclosed properties.  It also helps FHA, Fannie Mae, and Freddie Mac stabilize neighborhoods and recover local housing markets where abandoned and vacant homes are prevalent.  Buyers also benefit since many of these areas have reduced property taxes and lower-cost loan programs.

HUD REO Portal  (Mapping Properties)

The REO Portal is a consolidated neighborhood listing and mapping tool to assist neighborhood stabilizers in identifying Real-Estate Owned (REO)properties from Fannie Mae, Freddie Mac and FHA in targeted geographies. The portal supports more efficient disposition of REO properties to support the stabilization of neighborhoods and recovery of local housing markets by enabling a neighborhood-focused strategic approach to acquisition.  Users employing HUD's Neighborhood Stabilization Program (NSP) or other resources in the targeted acquisition, rehabilitation and/or demolition of REO properties can use the REOPortal to define target geographies and receive recent listings from Fannie Mae, Freddie Mac and FHA.

Example: How To Use The Mapping Tool

I wondered how many FHA, Fannie Mae, and Freddie Mac properties were close to my area in Cobb County.  I started the tool and it displayed a map of USA. I positioned the cursor on Georgia and clicked.  The display zoomed to Georgia.  Next, I zoomed to the Northwest corner of Georgia for Cobb County.  After 11 zooms I was able to display the properties that interested me (all those green boxes) - in Cobb and nearby Fulton and Cherokee counties.  Note - the actual display uses the entire screen. This image has simply been reduced to fit.

 Look at all these bargain opportunities !

Tags: HUD Unveils REO Portal,  Web-Based Mapping Tool, Neighborhood Stability Program, FHA, Fannie Mae, Freddie Mac, HUD Homestore, HomePath, HomeSteps, homes with lower-cost loan programs, homes with lower-property taxes, ATLShortSales.com.