FHFA Ready to Sell South Florida Fannie Mae & Freddie Mac Homes in Gold Rush

by Isaac Benmergui, Esq on April 2, 2012

Fannie Mae and Freddie Mac will be dumping its foreclosures soon. The Federal Housing Finance Agency which owns Fannie and Freddie will begin selling off foreclosed homes starting in April with an initial offering of 2,500 homes nationwide. The FHFA intends the sales to be offered in bulk lots, and the internet is abuzz with the proposed sales, garnering the term “gold rush” to describe the initiative.

Fannie and Freddie Homes with Hedge Fund Landlords?

Some investors have gone as far to create investment groups, soliciting investment dollars in order to buy in bulk and rent out the homes. “People will need to be careful, even with the rental agreements to make certain that they’re not put in a bad financial situation a second time, if they’ve already lost one residence,” says real estate attorney Isaac Benmergui. Some investors are partnering with hedge funds and private equity firms to get in on the sales. “There is a potential for abuse a second time around,” cautions Benmergui, “and I would strongly suggest anyone renting one of these properties have the agreement looked over by an attorney.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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