To do their part to inject the real estate industry with life, the FHA has recently relaxed the anti-flipping rules but some argue that recent FHA measures are self interested as they also have taken measures like raising mortgage insurance premiums to fill their drying coffers.
Reeling from the recession’s one-two-three-punch of job woes, climbing mortgage payments and evaporating equity, desperate homeowners are dipping into a nearby income stream to avoid foreclosure: That bedroom just down the hall.
Is landlording the way to go if you are starting into real estate investing today?
“For those unfamiliar with RM systems, they price apartments kind of like hotels price their rooms. Prices can change daily.”
The agency clarifies documentation that taxpayers will need in an effort to curtail widespread fraud in the program.
Home prices are falling, rents are tumbling, and apartment vacancies are rising. So why are thousands of small investors becoming landlords?
Ending 2009, 25% of mortgage holders owe more than their homes are worth, according to First American CoreLogic with problem areas like Nevada plaguing the national average as 70% of borrowers underwater. More than 50% of borrowers Florida and Arizona as well as 33% of California borrowers are underwater.