Federal Gov't getting in the Renting Market????

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Mortgage and Lending with FHA, VA, Jumbo, Downpayment Assistance, Conv. NMLS #276329

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.  

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Lisa Perry, Senior Loan Officer

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540-273-2733

NMLS ID #86548 / 276329

Email:  LPerry@fhmtg.com

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federal govt getting into the renting market

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Rainmaker
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Than Maynard
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 #1
Rainmaker
246,910
James Muhammad
RE/MAX Champions - Upland, CA
RE/MAX Champions

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 #2
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Rainmaker
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Lisa Perry - NMLS # 276329

Northern VA - VHDA, 100% Loans - Jumbo Loans
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