Lots of Foreclosures, No Price Reductions
September 1, 2010
At end of June Fannie Mae and Freddie Mac owned more than 191,000 homes, reports the Sept. 17 Wall Street Journal. That is double the year-earlier total and that number is expected to grow. Fannie took $13 billion charge during second quarter just for the carrying costs of its properties. Even so, in its infinite government wisdom, Fannie and Freddie aren’t slashing prices to dump homes. Instead, they are pushing lenders to reclaim vacant or foreclosed homes faster.
About the Author: Bob Cain
Some 30 years ago Bob Cain went to a no-money-down seminar and got the notion that owning rental property would be just the best idea there is for making money. He bought some. Trouble was, what he learned at the seminar didn’t tell him how to make money on his rental property. He went looking for help in the form of a magazine or newsletter about the business. He couldn't find any.
Always ready to jump at a great idea, he decided he could put his speaking and writing skills to work and perform a valuable service for other investors who needed more information about property management. So Bob ferreted out the secrets, tricks and techniques of property management wherever he found them; then he passed them along to other landlords.
For over 25 years now, Bob has been publishing information, giving speeches, putting on seminars and workshops, and consulting for landlords on how to buy, rent and manage property more effectively.
