Bernanke calls for nationwide REO rental program

Peter Schiff  - The Fed Unspun: The Other Side of the Story About Green River Capital Green River Capital (GRC) is a leading real estate company, providing REO. programs and supports investors’ single family rental strategies with pre- and post-acquisition.

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Source: "Bernanke Calls for Nationwide REO Rental Program," HousingWire (Jan. 4, 2012) and "Fed Urges Action on Housing," Wall Street Journal (Jan. 5, 2012) [Log-in required.] The Federal Reserve called on lawmakers to do more to help the ailing housing market, which has been blamed for dragging down economic recovery.

The Salvation Army runs one such program, and Catholic Charities has another program (your tenant doesn’t have to be Catholic to qualify for help). These programs may help a victim get back on her feet and back to paying rent on schedule, or buy her some time to find other housing while you get paid your rent in the short-term.

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The administration says it is pursuing potential ideas for REO-to-rental pilot programs ""with a sense of urgency,"" but two California firms don’t plan to wait on the government’s involvement.

On Wednesday, Federal Reserve Chairman Ben Bernanke got on board, penning a 26-page white paper, arguing that now is an unusually good time to convert foreclosed properties to rental units for three reasons: demand for owner-occupied homes remains low, demand for rental properties is rising, and the problem of banks’ continued hesitance to offer mortgages to everyday Americans means that.

Federal Reserve Chairman Ben Bernanke has made a suggestion to allow/encourage banks to rent these properties rather than leave them vacant, Bernanke calls for nationwide REO rental program. Such program could have benefits for Dennis.

The impact of those and other measures will be muted by the fact that FHA is resisting calls to boost its 3.5. of lenders to make new loans," Bernanke said. FHFA has also initiated a pilot "REO to.

The Obama administration this summer floated the idea of selling foreclosed homes to investors, who would agree to rent them out. The interest in a REO-to-rental program was so high that interested parties flooded the government with nearly 4,000 RFIs – or requests for information – in September when the topic hit fever pitch.