Renters wanted: A strategy to shrink REO inventory

From AOL Real Estate

Power up your Indie Brokerage
Don't miss our Indie Broker Summit SF, July 17, 2018

With an estimated 3.6 million more foreclosures expected over the next two years, the government-backed mortgage giants have a proposition for you: How’d you like to take a couple (hundred) homes off their hands?

In a recently announced program, the Federal Housing Finance Agency, which regulates the quasi-government lenders Fannie Mae and Freddie Mac, is offering qualified investors the opportunity to buy pools of foreclosed homes, provided they agree to rent the properties for a certain number of years.