The government is looking to sell off some of its stock of homes in foreclosure.
The Federal Housing Finance Agency has control over roughly 250,000 foreclosed homes owned by Fannie Mae. One percent of those homes, or 2,500, will be available for investors to buy and convert into rentals.
Officials say the foreclosure-to-rental program can help reduce credit losses and stabilize home values. Homes in foreclosure sell at a 20 percent discount on average, which can hurt surrounding home values.
Investors can submit applications to purchase properties owned by Fannie in some of the nation's hardest hit metro areas _ Atlanta, Chicago, Las Vegas, Phoenix and parts of Florida.
The government rescued Fannie and its sister organization Freddie Mac in September 2008 and has funded them since the financial crisis.
Katie Pavlich - Exposing The Black Lives Matter Movement For What It Is: Promotion of Cop Killing
Megyn Kelly gets angry: Why don’t the left’s “civility” rules apply to Black Lives Matter protesters? - Hot Air
How to Write a New York Times Op-Ed in Three Easy Steps | Human Events
Staffer who handled Hillary Clinton's private email to plead the Fifth Amendment
The Situation With Kim Davis | RedState
Daniel J. Mitchell - Does Donald Trump Think Washington Politicians Should Have More of Our Money to Help America Become Greece?
Homemade Gunpowder from What? - Bearing Arms - Video