Posted by: phillipsre | February 29, 2012

Turning Foreclosures into Rentals

It has taken awhile, but the goverment is planning to sell some of the stock of homes it has in foreclosure. Investors in some of the hardest hit markets – Atlanta, Chicago, Las Vegas, Phoenix & parts of Florida, will be able to apply to purchase foreclosed properties that are owned by Fannie Mae.  Seattle is not one of the areas that this program is in place, but it is a step in the right direction to off load some of the foreclosure inventory and maybe it will be something that will continue across more markets. Good news for the rental markets.

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