Feds want to help turn foreclosed properties into rentals (section 8, foreclosures)

[Don9]

The first phase is in Chicago but we have a hell of a lot of foreclosures so this program will be big in California.

Feds want to help turn foreclosed properties into rentals

"REO Initiative looking for those willing to pre-qualify their eligibility for the pilot phase"

[EscapeCalifornia]

So what's stopping investors from buying up these distressed properties and renting them out already? Why do we need another government program? Oh wait, its an election year.

[Don9]

Originally Posted by EscapeCalifornia

So what's stopping investors from buying up these distressed properties and renting them out already? Why do we need another government program? Oh wait, its an election year.

Buying homes and renting them to section 8 people is a bad investment and not what the government wants. The government wants to control housing.

[sacramento916]

Is the government interested in becoming the landlord or just selling these properties to investors?

The former would be disastrous.

[Don9]

Originally Posted by sacramento916

Is the government interested in becoming the landlord or just selling these properties to investors?

The former would be disastrous.

The government wants to become the landlord.

[Zembonez]

Yet another welfare program. YAY.

We'd be better off bulldozing these homes.

[Pretzelogik]

Originally Posted by Don9

The first phase is in Chicago but we have a hell of a lot of foreclosures so this program will be big in California.

Feds want to help turn foreclosed properties into rentals

"REO Initiative looking for those willing to pre-qualify their eligibility for the pilot phase"

Another light bulb of brilliance from DC.

[Don9]

Originally Posted by Zembonez

Yet another welfare program. YAY.

We'd be better off bulldozing these homes.

They will be bulldozing homes in the rural areas.