The Real Deal Miami

FHFA announces foreclosure rental program

February 01, 2012 11:15AM

Bulk buyers of foreclosed homes could rent them out

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]