March 13, 2009
January 30, 2009
Freddie Mac Takes a Shot at Being a Landlord
Freddie Mac, a quasi-government entity that finances mortgages, said it will begin renting out some foreclosed properties to their owners.
“Keeping foreclosed properties occupied and in better repair will support local property values and promote a faster recovery in the housing market,” said Freddie Mac Chief Executive David Moffett.Fannie Mae, which announced similar plans earlier this month, said it has stopped about 20,000 foreclosure sales and halted 6,300 evictions of owners or renters this winter.
Under Freddie Mac’s new policy, tenants and former property owners need to demonstrate that they have enough income to pay the rental bill. Freddie Mac also said it would consider reinstating a mortgage for those borrowers who can qualify for a modified loan.
Washington-based Fannie Mae and Freddie Mac were taken over by the government in September after mounting mortgage losses put them in distress that was a prelude to the broader financial crisis that hit Wall Street last year.
January 14, 2009
Good News For Renters Who Rent From a Foreclosed Landlord
From Realtor.org:
Fannie Mae announced Tuesday that it would allow qualified renters of foreclosed properties owned by a government-controlled mortgage company to stay in their homes.
Under the National Real Estate Owned (REO) Rental Policy, renters of homes acquired by Fannie Mae will be offered a new monthly lease at market-rate rent or if they desire, financial aid to help them move.
November 16, 2008
Renting vs Selling - Analyze Your Situation
Step 1: Renting vs Selling - Analyze Your Situation
So you’re at the point where you are not sure what to do with your house. You are in a scenario where you either cannot afford the monthly mortgage payment or where you have to move, but your house is now worth less than your mortgage balance. What do you do? Let’s take a look to see if renting out your property would be a smart move. (more…)
September 2, 2008
Hurricane Gustav Housing Help Information
Below is some useful websites and information for people looking for housing due to Hurricane Gustav:
