Insight: The Wall Street gold rush in foreclosed homes

Comments (8)

FYI, ANYONE can contact a local broker and buy 1, 2, 3 or more distressed homes CHEEP from Freddie and Fannie.

Mar 20, 2012 4:11pm EDT  --  Report as abuse

The small investor (my wife and myself) recently bought a home via a broker from Freddie in Texas, a great deal.
Now rented and bringing in 400 per month with an I O,loan payment of only 120.

Mar 20, 2012 4:14pm EDT  --  Report as abuse
Harry079 wrote:

“especially now the U.S. government is moving ahead with a trial project to sell big pools of single-family homes that Fannie Mae currently owns in some of the hardest-hit housing markets.”

All those people who lost their homes and didn’t leave the area will now rent the homes that they used to own and when as the market recovers they will be paying more in rent then it would be to buy again except their credit is destroyed and no-one will lend to them again ever.

Mar 20, 2012 4:53pm EDT  --  Report as abuse
NatReaderland wrote:

Rentals in Las Vegas = pot or meth houses, no upkeep, drugs sold out in the front yard, etc.

Gee I am so excited the government is selling to investors to rent…gee weee.

Time to move to Canada

Mar 20, 2012 5:09pm EDT  --  Report as abuse
NatReaderland wrote:

OlfBook…Sounds like you rent in a really great neighborhood..not

Mar 20, 2012 5:10pm EDT  --  Report as abuse
stevadore33 wrote:

Among the many questions about these foreclosed house would be, do they have clear titles. Properties previously registered with MERS (the mortgage electronic registration system)will not have a clear title.

Mar 20, 2012 5:42pm EDT  --  Report as abuse

This is disgusting beyond belief. A few rich people in palaces will become landlords over a population reduced to Russian peasants courtesy of Uncle Sam.

Mar 20, 2012 7:53pm EDT  --  Report as abuse
gordonhilgers wrote:

Interesting you would leave-out the four million (4,000,000) homeowners who were kicked-out of their homes by banks and mortgage lenders who found it “more profitable” to foreclose than to renegotiate loans and interest rates. In other words, the rich banksters and fraudsters who looted the nation once in 2007-08 have once again chosen the wrong road home, and will more than likely pay for it in the long run. Is it so odd the US Government would side with often faceless entities in the commercial world while turning its back on the people? When you hear the phrase from the US Constitution–”for the people”–what comes to mind? Or can you think that hard?

Mar 21, 2012 5:45pm EDT  --  Report as abuse
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