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2012-12-03 — reuters.com

``The inventory of foreclosed homes remains a problem for the nascent U.S. housing market recovery, and has been weighing on property values. More than 3.5 million homes have been foreclosed on in the last four years, and about 10.8 million borrowers owe more than their properties are worth.

"We're taking this step in support of families who have faced financial challenges," said Terry Edwards, executive vice president of credit portfolio management at Fannie Mae. "The holidays are a chance to be with loved ones and we want to relieve some stress at this time of year."''

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