On October 21, USA TODAY published an article entitled Investment Firms Look to Single-family Rentals.  With the number of vacant, foreclosed properties on the market, investors are striking bulk deals and renting out the homes which might otherwise remain vacant and appealing to criminals.

Investment firms look to single-family rentals

As homeownership rates continue to fall, a new type of single-family home buyer has emerged: large corporate investors.

With house values still depressed in many areas, investment funds and real estate trusts have been scooping up thousands of foreclosures across the U.S. in the hopes of managing houses the same way large real estate funds hold apartment complexes and office buildings.

That trend has accelerated recently as Fannie Mae announced its first two bulk sales of foreclosed homes to investment companies, selling 94 Chicago properties and 699 in Florida to firms that have pledged to rent them for at least three years. The federal mortgage-finance giant expects to sell nearly 2,000 units, the majority of them single-family homes, to stabilize cities hit hard by the housing crisis and to lighten its portfolio of foreclosed houses, which in June numbered about 109,000. Click Here for Full Video/Article (Members Only)

Tuesday is THE DAY!

Make sure you VOTE and make your vote count.

You have no room to squawk or complain about anything if you do  not vote.

Good luck to my little brother Denny who is running for 38th District State Representative!  Go Denny!

It’s Absolutely FREE!

Talk Radio 600 WREC Memphis TN

Host: Jo Garnar Mortgage Shoppe

Guests: Holly & Don Swapper, PRESIDENT Memphis Investors Group

Mike Butler

 

60 minute replay

State Supreme Court Rules AGAINST Landlords!

Kentucky Leads The Nation Again!

Right here in Louisville, Kentucky, my hometown, a lawsuit against a landlord has made it all the way to our State Supreme Court resulting in another new case law against landlords. This ruling has spread like wildfire all over the U.S.A.

Here is the short version.

Tenant has a Rottweiler dog in a fenced rear yard. Dog gets out of the yard, runs across the street and attacks a little girl, tearing most of her face off.

Obviously, the girl’s family is tore all to pieces and sues both the tenant and the landlord.

The case ends up in our State Supreme Court and they ruled on this case just a few weeks ago.

In summary, the Kentucky Supreme Court, in their explanation of their ruling, sided with the girl’s family giving major consideration of who has the deep pockets. The court acknowledged most tenants do not have piles of cash and remarked the only opportunity for recourse for the little girl’s family would be the landlord.

As a result of their ruling a new “case law” was created making the landlord the true owner of any animal on the rental property, with or without the landlord’s permission. Don’t shoot me, I am the messenger.

FYI, because the dog escaped the fenced rear yard, the State Supreme Court ruled the landlord was not responsible for the animal when it is not on the rented property and ruled in favor of the landlord on this case because the dog was not on the property.

My concern is your insurance companies across America will jump on this bandwagon just like environmental hazards.

WHAT SHOULD YOU DO? I immediately created… Click Here for Full Video/Article (Members Only)

FHFA Streamlines Short Sale Standards for Fannie Mae and Freddie Mac

The program attempts to remove barriers created by some subordinate lien holders by limiting subordinate-lien payments to $6,000. This maneuver essentially cuts off any attempts by second-lien holders to negotiate for larger payoff amounts.

New short sale requirements for servicers proposed by the Federal Housing Finance Agency are giving financial firms a battle strategy for dealing with reluctant subordinate-lien holders who attempt to delay short sales on points of negotiation.

Some parties in short sales are able to delay the process by Click Here for Full Video/Article (Members Only)

Short Video shows you how to find your next great Office Manager

Click Here for Full Video/Article (Members Only)

How To Screen Contractors On The Phone

Short video

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SPECIAL REPORT!

by

Mike Grinnan CPA

 

“Your Inside Scoop on ALL of

Your New Taxes in ObamaCare”

31 Page Special Report from Mike Grinnan CPA

Click Here for Full Video/Article (Members Only)

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