Definitely going to continue my blog as of now! Here is my question? Do you think Fannie Mae is making the right move regarding their new property management venture? They would be allowing people that go into foreclosure to lease the home they live in for 1 year and then rent month to month. I say get them out of the homes so our qualified buyers can buy the homes now! What do you think?
Real People Realty - Palos Heights, IL
Realtor - Palos Heights, Palos Hills - Homes
Justin,
are they going to let the owners stay in the house for the first year ? is that what your saying? or will the house be rented out month by month by someone other than the owner?
Nov 10, 2009 10:42 AM
Anonymous
That is my understanding of this new program. The borrowers who owned the home will be given an opportunity to rent the home for 1 year and then go on a month to month; not sure what the stipulations are as far as selling the property. Not sure if Fannie Mae will be showing home to buyers during the month to month period, etc...This will slow down the amount of money that Fannie Mae is losing by selling these foreclosures for such low prices. This will also create a large number of jobs to service the homes and rents, but not sure if that is truly helping anyone. Fannie Mae just asked the government for another $20+Billion bailout...so essentially we will all be paying for these new employee's salaries, etc...Some pros and some cons. Your thoughts?
Nov 10, 2009 02:43 PM
#2
Rainer
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Justin Vaught
Justin Vaught - NMLS # 260072
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