http://www.nytimes.com/2011/08/11/business/us-seeks-to-rent-out-its-foreclosures.html
Does this scare anyone else as much as it scares me??!!
The govt has no skin in the game and an incentive to offer “cheap housing.” This will just pull renters away from nicer places and decrease the pool of applicants, lowering the margins on everyone else. I don’t even know what to say, other than if they keep talking about this my places will have for sale signs in the yard.
If the U.S. government does not currently scare you with EVERYTHING they’re doing, you’re not paying attention!
Keith
Maybe my first deal can be bought from the Federal Government? :flush
Josh, It can. Check out HUD, Fannie May, and Freddie Mac.
They have a preference for Owner Occupants built into their pricing and closing guidelines. Look for a duplex, triplex, or fourplex; you can put these on regular financing on the secondary market through a 203b or homepath loan that lets you finance improvements. IIRC, they require 3.5% down. You pay PMI and higher financing costs, but it’s a great way to get started. You are required to live there for a year.
In a year you can do it again.
Does anybody in here benefit from Government Housing Assistance (Grants, Loans) Benefiting: Individual/Family, Low Income, Minority, Veterans?
Just want to know how does it work.