rents: Landlords Have a NEW Competitor - THE NEW FREDDIE MAC RENT BACK PROGRAM - 01/30/09 04:25 AM
I just read this article: Freddie Mac to rent foreclosed properties AMAZING!  It's totally understandable that they would take this route.  I showed a house on Tuesday that was only a couple of years old and theives had taken the stove and hood, oven and microwave, dishwasher and cabinets.  It's unreal.  When homes are looted the banks can't resell them with typical financing (ala FHA) unless they meet basic living standards.  If they don't, they sell them at a discount to investors for cash, who either fix them up and rent them out or resell them.
The problem is investors who … (1 comments)