FHFA announces foreclosure rental program

Under a new Federal Housing Finance Agency program, investors who buy foreclosed homes in bulk can then rent them out, the Palm Beach Post reported. “This is an important step toward increasing private investment in foreclosed properties to maximize value and stabilize communities,” said FHFA Acting Director Edward DeMarco. “I am grateful for the collaborative effort by the many stakeholders including investors, nonprofit organizations and state and local government officials, who have worked together on this initiative.” [Palm Beach Post]

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