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Fannie Mae Should Steer Clear of Renting Homes

It would wiser for the banks to hire propert managment companies that have experience managing rental proerties. All of these forclosed properties will not be quickly or easily sold anytime soon.

It is best to continue renting homes to their current tenets or if there is no occupents to rent the homes to new tenets as soon as possible.

This will generate income will the banks as they wait for the economy to improve and buyers to return.

Another very important issue that you have over looked is that banks will lose even more money if an unoccuppied home becomes occupied by squanters or if people in neighborhood ransack the property and remove or strip valuable parts from the homes. Already this is happening in neighborhoods where forclosures has hit hard. In these neighborhoods, you will see homes stripped of their pipes, plumbing, bathrooms, showers, bath tubs, tiolets, heating, biolers, lighting, and anything of value that you think of, Thieves have stolen from forclosed and abandoned homes in daylight and in front of new camaras. This beahvor will devalue not just the forclosed homes but also the whole neighborhood. Therefore it is in the best interests of GSEs and private banks to let current tenets stay and to find new tenents to occupay homes that are forclosed.

Occupants will prevent the wholesale theft and destruction of the forclosed homes and save the banks millions in costs to repair, rebuild and replace stolen items from forclosed homes.