Ohhh, What will this do to the Real estate/mortgage industry as we know it. I know some things need to change, but I do not know if this is it. The govt making rentals out of their large foreclosure inventory of foreclosed homes. Instead of foreclosing on people who are underwater, why not rent back to them and then let them buy back the home after a short period of time at the same lowered price that the govt is going to offer to the new renter.
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862
They do such a good job of maintaining there foreclosure properties! What exactly do you think rental properties managed by the federal government would look like in a few years? Not to mention the huge over-charges that will be incurred, because they have to hire a regional company to fix/repair/maintain the property. The regional company hires a state wide company, who then hires a local company. Just a couple more middlemen and we can have full employment!
Aug 29, 2011 08:09 AM
RE/MAX Champions - Upland, CA
RE/MAX Vision
Wow! That is not a good for our industry at all. That will take away from REO's and Short Sales. Will have to see what happens.
Aug 29, 2011 08:30 AM
Rainmaker
430,066
430,066
Lisa Perry - NMLS # 276329
Northern VA - VHDA, 100% Loans - Jumbo Loans
Service Areas
Real Estate Resources
I specializes in First Time Homebuyers, 100%-No Money Down Loans, FHA, VA, Jumbo, USDA & move up buyers in Virginia & Maryland areas. Specialty loans to include 80/10/10, 80/15/5, construction to perm & No MI loans. Call for your mortgage needs 540-273-2733
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