It looks like some Freddie Mac, HUD and Fannie Mae homes may be converted to rentals in an effort to decrease the number of foreclosed homes on the market. Thereby Bringing all of the efficiency, low overhead and common sense you'd expect from the Federal government into the rental market.
What could possibly go wrong if the government ran one more piece of the housing market?
From the Denver Business Journal:
The Wall Street Journal reports that Fannie Mae, Freddie Mac and the Federal Housing Administration owned a combined 250,000 foreclosed homes at the end of June, with another 830,000 somewhere in the foreclosure process.
Federal officials will seek proposals from investors on how to move such properties onto the rental market rather than selling them at a discount and pushing down home prices, the Journal said.
We'll see how far this idea gets.
If you're interested in learning more about Denver HUD homes, Fannie Mae or Freddie Mac programs, give our team a call at 303-726-1874.