New Pilot Announced by FHFA for REO Property Sales in Hardest-Hit Areas

By
Mortgage and Lending with Guaranteed Rate Mortgage

New Pilot Announced by FHFA for REO Property Sales in Hardest-Hit Areas

The first pilot under Real Estate-Owned (REO) Initiative was announced Monday by the Federal Housing FinanceFHFA Announces Pilot For REO Property Sales Agency (FHFA) that will allow more REO properties to be sold in the hardest-hit areas in the United States. These areas include: Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and part of Florida.

This initiative is designed to help lower taxpayer losses, stabilize neighborhoods and home values while also shifting to more private management of properties and reducing the supply of REO in the home market. In addition, the FHFA hopes this will also help meet the rising demand for rental housing.

Prequalified investors will be sent details of the sale and then will be able to submit applications that demonstrate their financial capacity, experience and outline specific plans for purchasing pools of Fannie Mae foreclosed properties. They will be required to rent these purchases properties for a specific amount of years. Any investor interested can complete the forms on the FHFA REO Initiative page.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
new pilot announced by fhfa for reo property sales in hardesthit areas

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the lamp to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the man to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the lamp to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
78,988

Chad Ronning

FHA, VA, USDA, Home Path
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the woman to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information