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Fannie's newest plan
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bruce3681
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Posts: 11
Registered: 10-07-2009


bruce3681

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Here it is folks Fannie's latest attempt to stem the flow. Deed for Lease

Unbelievable!

Kudos!
11-06-2009 04:50 AM
 

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Re: Fannie's newest plan
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Bay_Architect
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Registered: 11-07-2009


Bay_Architect

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This is actually a decent idea.  Too bad they did not do this two or three years ago, before foreclosures emptied entire neighborhoods in some cases (think Detroit, Cleveland, etc), leaving the ramshackle remains to be vandalized and stripped of copper and anything else of value.  Many stories have been published telling the tales of tenants, who were current in their rent to their landlord, get the boot by the hand of the bank when the foreclosure process begins... when this happens en masse, a neighborhood or even entire city is often left with major blight, and almost worthless remainders of real estate past.  Kudos to Fannie for finally making a step in the right direction.
Kudos!
11-07-2009 12:23 AM
 

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Bargain_Hunter
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Registered: 05-14-2009


Bargain_Hunter

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Hey, if banks want to get into the rental business, I think this is a better solution than what they're doing now.
Kudos!
11-07-2009 01:20 AM
 

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merlin
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Registered: 04-22-2008


merlin

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Anything to keep $$ coming in ... I guess it's another option that people can choose from.

 

The answer ..... alas ... is still <i>too much debt</i>. 

Kudos!
11-07-2009 01:33 AM
 

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Nanomug
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Posts: 2182
Registered: 05-30-2009


Nanomug

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Some banks have been renting properties out (not always to their former owners) for some time.  I'm looking forward to see if it really works since their loans are serviced by many lenders that don't work well with their customers.
Kudos!
11-07-2009 10:53 PM
 

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Re: Fannie's newest plan   [ Edited ]
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TomP
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Registered: 06-18-2009


TomP

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Not exactly the way some wanted to promote "home ownership".

 

..The best laid schemes of mice and men, go often askew. 

 

Love their mission statement..... which proved to be a colossal failure.

 

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers.Our job is to help those who house America. 

 

 

 

 

 

 

 

 

Message Edited by TomP on 11-08-2009 12:51 AM
Message Edited by TomP on 11-08-2009 12:51 AM
Kudos!
11-08-2009 12:44 AM
 

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Re: Fannie's newest plan   [ Edited ]
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reoman
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Posts: 86
Registered: 04-22-2009


reoman

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DId you see this:

 

http://www.realcomp.com/Docs/Overview_First_Look.pdf

 

This has gotten me really pissed at Fannie Mae.

 

With HUD 99.99% of there houses sell to investors. It just causes trouble. 

 

I just looked at bit more at this stupid "first look" thing. On Fannie's website there section on real estate investors might was well just say:

 

YOU STINK!!! 

 

They hate investors. I don't see the point. Its just dumb. Is this what there socialist mission statement is coming too?

Message Edited by reoman on 11-08-2009 08:29 AM
Kudos!
11-08-2009 08:24 AM
 

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