Solution to Foreclosed Properties?

By / Business, Economy, Finance, home buyers, Manufactured and Modular Housing News, regulation / January 9, 2012

CNBC tells MHProNews.com the Obama administration’s plan to speed-up the housing recovery process may be to sell government-owned foreclosed real estate in bulk to investors who will then rent the properties. Since banks may be reluctant to finance the purchases, the government may offer a subsidy to the investors by guaranteeing a portion of the loans. This in turn will encourage lenders to offer interest rates low enough that investors can turn a profit. Because of financial risks the government will assume, regulators will likely choose investors who meet certain criteria and have demonstrated their ability in the real estate arena, resulting in a lock for established investors. The article cautions that it may also be a way to reward those who may donate to political campaigns.

(Photo credit: Wikipedia)

2 thoughts on “Solution to Foreclosed Properties?”

  1. Mel

    Sounds like another way to create more Government jobs!  They should lower or eliminate short term capital gains on flips instead. Encourage people to buy the eye sore that drag neighborhood prices down so the other home owners who keep paying their mortgage do not loose the value in their homes because some people are allowed to walk away from their obligation to pay their mortgage.

  2. Mel

    Sounds like another way to create more Government jobs!  They should lower or eliminate short term capital gains on flips instead. Encourage people to buy the eye sore that drag neighborhood prices down so the other home owners who keep paying their mortgage do not loose the value in their homes because some people are allowed to walk away from their obligation to pay their mortgage.

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