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Updated about 15 years ago,
"Congratulations America, We're All Landlords Now"
` Fannie/Freddie are either already parking their trash with
Ben or will be soon enough - they HAVE to take on more mortgages and they sure don't handle foreclosures well. I doubt they'll handle
rentals any better, but there will be a whole new HUD crew hired just to handle these as they become a LOT more popular soon.
Few will leave HOME to pay "market rent" if they can stay where they are forevermore. Phase Next on the near horizon: "Low Income Gulf Access, with a Pool". An interesting twist of fate only a few could even have imagined EVER being a reality. The cream-holders who are now flat busted WILL be saved from the world of we minions, I assure you...
Plan for big change in the rental world during "The year of Change" -
it's already well under way and will pick up a LOT of steam when the
word hits the street.
EVERY other "Lender" with trash on or off its books will be allowed to follow suit, of course. I know few underwater folks who wouldn't take advantage of such an offer as this - rent 'til you can offer to buy,
you'll no doubt find a VERY willing seller once they see what you've
done to THEIR property while you "rented".
"Congratulations America, We're All Landlords Now"
http://www.cnbc.com/id/33655956