The topic of foreclosures within the housing market is a complex and intricate subject that has plagued our nation for the past few years. Now, Federal officials are taking steps to rectify the foreclosure situation. According to a recent article on CNN Money, Federal officials are hoping to launch a pilot program early this year to convert government-owned foreclosures into rental home properties. This plan would sell foreclosed homes owned by Fannie Mae and Freddie Mac (mortgage finance guarantors) to investors in bulk, and then will be converted into rentals.
Officials hope that by placing these homes within the rental home market, the homes will be put into productive use and will stabilize neighborhoods and housing values. Also, this plan would expand the supply of rentals available for hopeful homeowners. Until now, most foreclosed homes have been sold individually because investors demanded bigger discounts for buying a larger number of homes.
The Federal Reserve has already tried to boost real estate sales by pushing mortgage rates down to record lows through massive bond-buying programs, but the renewed push for housing help indicates that the Federal government is urging for a revamp of efforts. According to Jaret Seiberg, a policy analyst with the Washington Research Group, “The Federal Reserve is signaling in event stronger the need for the government to do more to help housing.” Hopefully, these plans to revamp the home market will prove successful.
No matter the housing market condition, the team at Rental Home Management will be there to guide you through the rental process. Please do not hesitate to call us at (407)261-5610 for all of your Orlando rental home needs.


