Investors eye U.S. foreclosure-rental plan

WASHINGTON (MarketWatch) — Matt Martin, CEO of Matt Martin Real Estate Management, is eagerly awaiting the introduction of a program that the Obama administration hopes will transform foreclosed properties into rehabilitated rental units and kick-start the economy.

He says he’s not alone. “There is a large chunk of capital, billions of dollars, sitting on the sidelines waiting to see what kind of program the government comes up with,” Martin said.

At issue is a Federal Housing Finance Agency push to develop a program that is expected to use government financing or guarantees to attract investors to buy up big regional or national pools of foreclosed properties currently owned by government seized housing giants Fannie Mae and Freddie Mac. The plan would be to convert these properties into rentals, a market that has strengthened recently. See story from August on foreclosure-to-rental program

Some analysts say President Barack Obama may discuss the initiative at his State of the Union Tuesday, with a focus on how to convert empty homes into productive engines of the economy. Read State of Union preview. Full Story

0 comments

Add your comment

Nickname:

E-mail:

Website:

Comment:

Other articlesgo to homepage

	Home prices at lowest point in more than 10 years(0) NEW YORK (CNNMoney) — Home prices fell to their lowest point in more than a decade in January, which helped to lift the pace of home sales, according to a report from an industry trade group. The National Association of Realtors reported that the median home price in January fell 2% from December to $154,700.

	Multi-million dollar foreclosures(0) Even these mega-mansions in some of America’s wealthiest neighborhoods are not immune to the housing crisis. Located in “the Gold Coast of Orange County,” this impressive home with views of Catalina Island and the Pacific Ocean fell into foreclosure in 2010, the same year it was built. At one time, it was in escrow for

	Are Homebuilders Building Too Many Houses?(0) With the recent increase in single family housing starts, a key question is: Are the home builders starting too many homes? The answer is no. Part of the increase for starts in December and January can be explained by the unseasonably warm weather in most of the country. The reported number is seasonally adjusted, and

	چهار تنگناي جهاني در بازار مسكن(0) نهادهاي تحقيقاتي حوزه مسكن در آمريكا و انگليس به دليل بيم‌واميد به آينده اين حوزه در كشورشان، زودتر از مراكز علمي ساير كشورها، اقدام به بررسي چشم‌انداز جهاني بازار املاك براي سال 2012 كرده‌اند. نتايج اين تحقيق نشان مي‌دهد هم‌اكنون در بازار مسكن اغلب كشورها 4 تنگنا وجود دارد كه خريداران مسكن به خصوص افراد

	Foreclosures on the Rise Again(0) One in every 624 U.S. households received a foreclosure filing in January, up 3 percent from the previous month, according to a new report from RealtyTrac. Foreclosure activity froze in many states in 2011, due to processing delays after fraud, or so-called “Robo-signing,” were uncovered in the fall of 2010. The thaw is now on.