Realty Flipping Guide

Fannie Mae is a government sponsored private company, with its roots in the Great Depression. Unfortunately, mere government-sponsorship was not enough to keep the company afloat during the recent financial crisis, and the U.S. government had to go all in on its bad bet and seize the company to prevent its imminent demise. While the very concept of a government-sponsored enterprise once seemed like something of a oxymoron, it is now beginning to seem like a quaint relic of the good old days, before the Government started simply seizing every shaky financial institution in sight. Now, instead of seizing homes from delinquent borrowers, Fannie Mae has announced a program where it will agree to take a Deed In Lieu (of foreclosure), and, if certain conditions can be satisified, to permit the former homeowner to remain in their former property as renters instead of owners. Fannie Mae […]

Original post by Florence Foote and software by Elliott Back