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Fannie Mae Sells Off 700 Foreclosures to Local San Diego, California Firm.

By
Services for Real Estate Pros with Crescent Moon Realty, Inc. & Land N Sea Auctions.

Local San Diegl real estate investment firm Pacific Cos. bought nearly 700 foreclosure from mortgage giant Fannie Mae. the deal makes the local company the first winning bidder in Fannie Mae's pilot program to sell repossessed home in bulk to investors on the condition they convert them to rentals.

On July 3, 20112, the Federal Housing Finance Agency (FHFA) announced that it had made selections of bidders in the first pilot program under its REO to Rental initiative.

The pilot made offerings totaling 2,500 Fannie Mae owned homes in eight locations for investors to bid on with the understanding that homes would be maintained for rental for a period of time. Final announcement of the winning bids will be made when transactions are ready to close, expected in the next several weeks.

 

This information is offered by: Crescent Moon Realty, Inc.

 

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Being a real estate broker takes on the form of leadership. The agent/broker role is to lead the client through the home purchase or sales process and serving them with the highest customer service standards. Crescent Moon Realty, Inc & Land N Sea Auction goal is to help the client achieve as many of their goals as possible - so that both parties feel that they are in a win-win.

Find out the benefits to selling or buying a home traditionally or non traditionally ---Contact us @ 1-760-650-2157 Or visit our websites @ www.LandNSeaAuctions.com or CrescentMoonRealty.biz.

Lorraine or Loretta

Comments (2)

Winston Heverly
Coldwell Banker Access Realty - South Macon, GA
GRI, ABR, SFR, CDPE, CIAS, PA

I hope you get some rental listings out of it. Perhaps it will also help the local contractors as well.

Sep 17, 2012 08:32 AM
John Pusa
Glendale, CA

Lorraine & Loratta - Thank you for sharing detailed information about Fannie Mae sells off 700 foreclosures to local San Diego, California firm.

Sep 17, 2012 10:36 AM