The federal government would like to sell some of its huge portfolio of foreclosure homes to investors who will rent them out.
These are houses with loans backed by Fannie Mae, Freddie Mac and the Federal Housing Administration that lenders and investors have foreclosed on and handed back to these federally owned agencies to take the losses on.
Last week, the U.S. Treasury Department and U.S. Department of Housing and Urban Development requested proposals from groups to buy the homes and turn them into rentals. The federal agencies didn’t mention a discount for buying the houses in bulk, but most investors will expect one.
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