I’ve been hearing more and more about how Fannie Mae has been renovating some of their REO properties. My first thought was that this is surely going to be another boondoggle; being that I don’t really trust anything the government has done regarding housing.
I ran across this video about Fannie Mae’s renovation program, and the success they say they’re having with it. If their cost is only averaging $5,700 per house in renovations, then I have to admit this might be money well spent.
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