Tuesday, February 28, 2012

Fannie Mae to Sell About 2500 Homes to Investors in Bulk Offering

Heard some buzz about this already, started last year, but it's really here. Fannie Mae is going to unload about 2500 REO homes to investors that will turn them into rentals.

Yes, they have to be pre-qualified and experienced at doing this type of thing. Not just someone like you or me can get in on this. Well you can try I suppose. Click here to see if it's possible for you: Federal Housing Finance Agency.

What I found most interesting was the fact that only about 400 of them are vacant properties. I did happen to see a listing in the MLS this week for an REO with a tenant in it. I have seen many short-sales like that, but I just saw a tenant occupied REO listing for the first time....

So, Fannie Mae is spinning this as a built-in tenant....I'm thinking quite possibly a built-in squatter! But, I am happy about anything that gets more REO's out of the pipeline and either people renting them or people buying them.....the sooner the better!

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