patrick.net

http://www.bloomberg.com/news/2012-02-27/fhfa-to-begin-selling-foreclosed-homes-to-investors-for-rentals.html

The Federal Housing Finance Agency will begin inviting bids from investors to buy packages of foreclosed properties to be offered as rentals.

The agency today said it will send detailed information to investors who qualify to participate in the bulk-sales pilot program. About 2,500 foreclosure homes will be marketed in Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida, according to a statement posted by the agency on its website today.

More news on this

http://www.reuters.com/article/2012/02/27/usa-housing-reo-idUSL2E8DR9ZW20120227

http://www.fhfa.gov/webfiles/23196/REO2112F.pdf

Investor Pre-Qualification Process: http://www.homepath.com/structuredsales.html

Thanks for the links... so you only need to have a net worth (excluding your primary residence) of $1M, as compared to $1B if you’re an individual. Big difference.

Even on the corporate level, I would expect even a small scale real estate investment company would have over $1M in assets. The $5M threshold for a corporation should be achievable.

These “news” outlet should get their facts straight first.

or:
"____ (f) The undersigned is a natural person who has an individual net income in excess of $200,000 in each of the two most recent years, or who has joint net income with such person’s spouse in excess of $300,000 in each of the two most recent years, and who has a reasonable expectation of reaching the same income level in the current year."

Here is a link to Roger Arnold

http://www.thestreet.com/story/11224917/a-huge-housing-bargain--but-not-for-you.html

Instead of this cockamamie scheme to help rich people and keep housing prices elevated.

Why doesn't Fannie Mae just put these houses up for sale? And further Fannie and Freddie should be shut down.

How can anybody even consider buying a home now with the government artificially keeping housing prices elevated? One does not only have to pay for the house but all these government contrivances must be factored into the price of the home. But the government cannot keep this charade going forever.

If one buys now they are almost sure to take a serious loss when the government cries uncle.