Home › Forums › General › EHTrust/EHT Topics and Creative Real Estate Financing › Freddie Mac to rent foreclosed properties
January 30, 2009 at 8:22 pm #5423
Article just posted today:
Freddie Mac to rent foreclosed properties
Freddie Mac plans to allow borrowers to rent back properties after foreclosure
All the best,
- Mark.[/url]January 30, 2009 at 8:47 pm #28331
Why don’t they just offer a loan modification to these people. Instead they let them go all the way to foreclosure then rent them out to the people.January 30, 2009 at 9:59 pm #28332
Why don’t they just offer a loan modification to these people. Instead they let them go all the way to foreclosure then rent them out to the people.
Because they have already been foreclosed on and are now REOs. These are properties that the Owners didn’t want, couldn’t sell or just plain walked away from.
Dave and I, with our favorite Realtor, are working with a group of Credit Unions that has turn over several properties to us via NEOs. They just want payments being made on the properties. If we happen to find outright buyers they will do the financing and allow us to flip them from the Trust, to our end buyer. When we close our first one, we’ll all let you know how it panned out.
Today the Credit Unions, then the BIG Banks, tomorrow… THE WORLD!!!January 30, 2009 at 10:26 pm #28333
And to Homesavers question, from the article…
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.
Lenders are trying to be more creative.January 31, 2009 at 8:38 am #28334
A NARS fellow member here.
Lenders are trying to be more creative.
MILLIONS…MILLIONS…MILLIONS…of USA$$$ in RE for the taking or for the having.
Many NARS members are lenders (sort of, or most of us?)!!!
But, we must keep our focus. Our system is UNIQUE. It is NARS.
So, what we were talking about?…I forgot…lol…February 25, 2009 at 2:25 am #28335
OK Mr Moyes do you need a Guinea Pig for what you are trying to do through the Credit Unions. I want to get into a REO near Fresno Ca. Can you Help?February 25, 2009 at 3:16 am #28336
I see this movement being the tip of the iceberg.
when, perhaps, will Bill G and Bob Pless get the EHT under their government noses?
we’re only one step away from gov’t using the eht model.
Scott, whatcha gonna do when O calls ya to the Oval and says “dude s’up in SLC’?February 25, 2009 at 4:53 am #28337
Please see my response to your other posting PAC Trust.
Neftali Pazo-SotoFebruary 25, 2009 at 10:23 pm #28338
OK Mr Moyes do you need a Guinea Pig for what you are trying to do through the Credit Unions. I want to get into a REO near Fresno Ca. Can you Help?
Nope, no Guinea Pig needed. Hundreds have been done already. The only difference now is that the Bank is the Owner/Seller. At this point all we’re waiting for is signed NEOs.
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