Fannie Mae to Become Biggest Landlord in USA!?!
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So how do you feel this new program from Fannie Mae and Freddie Mac will impact the real estate innvestment market. What are your thoughts?
Fannie Mae and Freddie Mac are asking the Federal Government for another $15 Billion dollars in bailout money because of defaults and foreclosures! To add to the Federal control Fannie Mae is rolling out a new program to lease back foreclosed homes and let tenants rent. Fannie Mae is to become the Biggest Federal Landlord in the Country! Watch this Video for More Details! The program is band new and was just announced last Thursday. Fannie Mae will become a land lord on a national scale! They will be leasing back the propeties to clients for one year with a month to month lease option thereafter.
How do you feel about this program? Your comments are welcome.
Until Next time Here is to your success! Jason Wheeler 925-285-2172 |
Comments (1)
Hi, my initial thought was that short sales and foreclosure deals would deminish. But, after a borrower becomes a tenant they will probably realize that they lost the property. Just because these properties are in a lease program doesn't mean they can't be purchased. I would think that if the tenant was offered an equity amount to assign their "option" or request that fannie sell the property, that investor strategies could forge ahead. A homeowner who becomes a tenant under a long distance federal program with imposed limitations may well be motivated to move out and try to buy elsewhere, especially if you have another property to sell them. So, my opinion of the net effect- not much, opportunity will still be there. Bill
Bill Gulley, almost 15 years ago