The Federal Housing Finance Agency (FHFA) is rolling out the initial step of its REO Initiative, which is designed to help clear excess inventory by selling properties to investors who will rent them out. Investors who wish to participate may start the ?pre-qualifying? process today. If approved, they will be approved to ?purchase pools of foreclosed properties with the requirement to rent the purchased properties for a specified number of years?[1]. The FHFA hopes that this will provide relief for local housing markets in hardest-hit areas. The pre-qualification is designed to make sure that only investors with the ?financial capacity and operational expertise to manage properties in a way that is conducive to the stabilization of communities? are ultimately involved in the bidding and buying process.
?This is an important step toward increasing private investment in foreclosed properties,? said FHFA acting director Edward DeMarco about the program[2]. Presently, both Fannie Mae and Freddie Mac sell most of their REO properties to owner-occupants at near-market value. This pilot phase could change that by incorporating investors into the equation and clearing out large pools of inventory quickly.
Do you think that these sales pools will help the housing market? Are you going to get involved?
Thank you for reading the Bryan Ellis Investing Letter!
Your comments and questions are welcomed below.
[1] http://nationalmortgageprofessional.com/news28213/fhfa-takes-first-step-its-reo-pilot-initiative?
[2] http://www.loansafe.org/fhfa-makes-announcement-that-interested-investors-may-pre-qualify-for-reo-initiative
Category: Real Estate
Source: http://investing.bryanellis.com/606/fhfa-now-pre-qualifying-investors/
storage auctions les miles les miles beyonce dance for you video beyonce dance for you video asu football asu football
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.