[quote=patientrenter][quote=UCGal]From a taxpayer point of view… isn’t moving these homes off the fannie mae holdings a good thing? ….[/quote]
How is lending someone all (or almost all) the money to ‘buy’ a house from the taxpayers, with no recourse beyond the home if they fail to repay the loan, letting taxpayers off the hook?
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I would assume at least some percentage will pay the mortgages. Presumably more than 50% of these sales (very conservative number) will result in mortgages paid. That’s better than ZERO percent.
It’s not ideal… but it’s better than fannie sitting with the houses, not for sale, not for rent, not doing anything.
