From a recent article in the "Times", Fannie Mae is considering letting you rent the property back after foreclosure. I can honestly say that I would not rent any of the REO properties that I have seen recently. So, here is the original owner renting their own home and will not be qualified for any FHA products for 5 years/680 credit scrore and 10% down. Do you think that Fannie Mae needs a real estate license? Have they not done enough?
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Fathom Realty - Cary, NC
Realty Consultant for Cary Real Estate
Featuring Susan Craft, CRS, REALTOR® - McEnearney Associates - Alexandria, VA
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Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,
1) If they are staying there for while, hopefully they won't trash it when they leave it
2) It will let them get their life in order a little, so they can then find another rental in the future
It could be a good thing.
Nov 15, 2009 04:08 AM
Rainer
8,406
8,406
Walt Turner
ABR, SFR
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