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The Wall Street Fraud Watchdog Urges Bulk Home Foreclosure Investors To Use Their Diligence Service Before Buying Into A Fannie Mae REO Portfolio That Is A Minefield(January 10, 2012)
(PRWEB) January 10, 2012
The Wall Street Fraud Watchdog says, "In the June 2005 edition of Money Magazine an affiliated group of our's actually called the US real estate market a train wreck waiting to happen, because of bank, or homebuilder appraisal fraud. We were correct. We are also correct about the idea that Fannie Mae & Freddie Mac need to get out of the REO business, because the government, or Fannie do not make for good landlords. However, if the government, Fannie, and Freddie do in fact start doing jumbo portfolio sales of home foreclosures, the investor will not only need to know exactly what they are doing, they will also have to be fully aware of the minefields awaiting them, before they throw down big on a Fannie Mae, or Freddie Mac REO portfolio. Location, location, location, means a lot more today, than they ever have before." The group says, "Some real estate markets are probably better positioned to rebound before others. As an example states with no income taxes will fare much better than states with regressive taxes, or insane property taxes. Unfortunately, some of those states, that have better business environments also have home foreclosures with toxic Chinese drywall (Florida, Alabama, Mississippi, Louisiana, and Texas). So as part of the due diligence process the presence of toxic Chinese drywall has to be on the to do list, and we are set up to do this, along with all other aspects of the due diligence process." http://WallStreetFraudWatchdog.Com
The Wall Street Fraud Watchdog is saying, "When we heard REIT's, homebuilders, or investors were building rental properties, we knew it was a really stupid idea. Why build any rental right now, when you could amass a gigantic portfolio of REO's that would more than cover their debt, and actually offer future appreciation? However, this is not the S&L crisis of the late 1980's, and any acquisition of a jumbo Fannie, or Freddie home foreclosure portfolio could be very risky, if the due diligence is not perfectly done, that includes attention to every detail from pricing of the offer, individual rental potentials, ROI on an individual basis, market absorption, cost to put the property in a position to be rented, ongoing operational budgeting for each property, etc. We can do all of these things, and more." For more information investors looking to amass a portfolio of REO properties can call upon the Wall Street Fraud Watchdog for their world class due diligence service at 866-714-6466, or they can contact the group via their web site at http://WallStreetFraudWatchdog.Com
Read the full story at http://www.prweb.com/releases/2012/1/prweb9091460.htm.
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