https://realtybiznews.com/bulk-sales-of-reo-properties-from-the-investors-perspective-part-2/9879516/ With the latest on mortgages, refinancing, real estate & home tips Tue, 21 Feb 2012 16:26:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 https://realtybiznews.com/bulk-sales-of-reo-properties-from-the-investors-perspective-part-2/9879516/#comment-121224 Donna Robinson Tue, 21 Feb 2012 16:26:24 +0000 https://realtybiznews.com/?p=9516#comment-121224 The article was not necessarily endorsing that all homes in all markets be given away. The broker who made those comments for the article is in the Atlanta, GA market, where there are a high number of foreclosed properties in areas where few investors would want them. In the context of the article, the intent is directed more towards homes in those areas where investor demand would be minimal. And prices in Atlanta are much lower relative to the California market. However, in response to your question, the taxpayers picked up the tab when the taxpayers bailed out Fannnie and Freddie. Now that these REO's are taxpayer owned, it's a matter of finding a way to get them back into service so that taxpayers can realize some return, even if only via local property tax payments. No question that it's not the ideal scenario, but it's better than allowing homes in the least desirable areas to sit vacant, then be vandalized and stripped of infrastructure. I would also add that any "government insured" loan such as FHA or VA are taxpayer backed loans, and it's the taxpayers who pick up the tab anytime one of those loans defaults. The article was not necessarily endorsing that all homes in all markets be given away. The broker who made those comments for the article is in the Atlanta, GA market, where there are a high number of foreclosed properties in areas where few investors would want them. In the context of the article, the intent is directed more towards homes in those areas where investor demand would be minimal. And prices in Atlanta are much lower relative to the California market. However, in response to your question, the taxpayers picked up the tab when the taxpayers bailed out Fannnie and Freddie. Now that these REO’s are taxpayer owned, it’s a matter of finding a way to get them back into service so that taxpayers can realize some return, even if only via local property tax payments. No question that it’s not the ideal scenario, but it’s better than allowing homes in the least desirable areas to sit vacant, then be vandalized and stripped of infrastructure. I would also add that any “government insured” loan such as FHA or VA are taxpayer backed loans, and it’s the taxpayers who pick up the tab anytime one of those loans defaults.

]]> https://realtybiznews.com/bulk-sales-of-reo-properties-from-the-investors-perspective-part-2/9879516/#comment-121002 Seth Phillips Tue, 21 Feb 2012 06:30:32 +0000 https://realtybiznews.com/?p=9516#comment-121002 Your idea of GIVING the houses away will go over real big in California where the average defaulted loan amount was $400,000. Who is supposed to pick up that tab? Your idea of GIVING the houses away will go over real big in California where the average defaulted loan amount was $400,000. Who is supposed to pick up that tab?

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