Nov
17

FDIC Sells Most Real Estate Since 1994

By
– Bloomberg.com

The Federal Deposit Insurance Corp. has already sold the most real estate this year since 1994 as the regulator takes over properties held by failed lenders.

The FDIC raised $727 million from building and land sales in the first nine months of 2009 compared with $1.16 billion in the whole of 1994, according to FDIC data. The Washington-based agency sold 1,706 properties, according to its Web site, the highest number since 2,045 in 1996.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://bloomberg.com/apps/news?pid=20601206&sid=aIcNcx3Hm80o
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