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Foreclosure Rental Program Comes Under Fire, NAR States Disapproval

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  • Barb Hassan | | 24 Feb 2012, 03:20 AM Agree 0
    It makes perfectly good business sense for FHA, Freddie and Fannie to rent out properties that would otherwise be sold at foreclosure. The rental market is hot right now and why would these government sponsored enterprises not want to take advantage of rental income that is oftentimes higher than the mortgage payments that they currently are not getting on these foreclosed properties. At some point down the road those renters could possibly be the future buyers of these homes and that also would be great news for FHA, Fannie and Freddie. Of course this is not good news for NAR members as Realtors probably would be kept out of these transactions.
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