Wow, talk about opportunity! According to a recently released report from Corelogic, as a result of the FHFA’s (Federal Housing Finance Agency) implementation of the “REO to Rental Program” whereby Fannie Mae REO’s will be sold in bulk to investors for rental property, there will be potentially over $100 Billion of rental market REO’s in the coming year! The first of these sales was a lot of 2,500 homes sold in February with a market value reported to be around $314 million. [...]
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Federal Reserve Governor Elizabeth A. Duke, while speaking at the Federal Reserve Board Policy Forum last week, discussed the effect on the housing market that properties acquired by banks and lenders through foreclosure (REO’s) and suggested that if some of this inventory was converted to rental property by the lenders, this may have a positive [...] Forty three years ago today, President Lyndon Baines Johnson signed into law the Civil Rights Act of 1968 which included Title VIII, the Fair Housing Act which, as described on HUD’s website, “prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, [...] Dennis Norman By: Dennis Norman I don’t like being told what to do; Particularly by a seller of property I’m purchasing. However, for years I have been told by agents with REO listings that if I don’t use the title company the seller has selected then the seller won’t sell to me. Thanks to [...] By: Dennis Norman In parts 1 and 2 of this series I gave my history of buying property and where I found the “good deals” at as well as how the times and technology, most notably the internet, have changed things. We now find ourselves in a time when information about foreclosures, property sales, homes [...] By: Dennis Norman As I jump around the interenet reading various blogs, news articles and the like about investing in real estate it amazes me how many people out there are looking for REO’s (a label banks and other lenders give the property they take back in foreclosure, Real Estate Owned) as if they are [...] |
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