The following from Investopedia: In August 2011, the Federal Housing Finance Agency (FHFA) announced their mandate to reduce the volume of real estate owned (REO) properties, stabilize property values in areas hard-hit with foreclosures and increase the supply of affordable rental housing in those same markets. In February 2012, the FHFA launched the REO-to-Rental Pilot Initiative that will attract smaller investors and increase private investment in REO properties.
The FHFA has regulatory and supervisory oversight over Fannie Mae, Freddie Mac and the Federal Home Loan Bank System. The agency worked with the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the Federal Housing Administration (FHA), the U.S. Department of Housing and Urban Development (HUD), the Treasury Department and many state and local governments to develop the REO-to-Rental Pilot Initiative to increase participation from smaller and private investors to purchase, rehabilitate, manage and rent REO properties in areas with declining market values and deteriorating conditions.
THE BOTTOM LINE: This is an excellent opportunity for individual real estate investors, developers and property managers to enter or re-enter the buy-to-hold and rental real estate market under favorable conditions.
The Eckerman Group
Real Estate and Wealth Building Education
7345 South Durango Drive
Suite B107 #13
Las Vegas NV 89113
(702)900-9372
info@theeckermangroup.com
No comments:
Post a Comment