Accidental landlords

Landlord and Tenants

Many people can’t sell because they are underwater so they have to rent. 27% of homeowners are still underwater despite recent price increases. In some areas, it over 50%.

These people are targets for my new idea about how to make money with these properties. It’s a long term lease with option and you can make money even if the mortgage payment is higher than the rent.

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New short sale rules

Fannie mae and Freddie mac have come up with new rules.:

As reported by the LA Times, Fannie and Freddie have finalized their new “streamlined” short sale guidelines effective Nov.1st.

Here are the highlights of the finalized criteria:

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