There has been a home in our area that has been vacant for over 2
years. I did some research on it and found out that it was purchased in
July 2012 by SFR 2012-1 US WEST LLC.
Nows here is where it gets interesting…
THIS LLC WAS CREATED BY FANNIE MAE!
Here is the link to an article that never saw the light of day….now I know why.
http://www.azcentral.com/business/realestate/articles/20120727mystery-buyer-snaps-up-foreclosure-homes.html?nclick_check=1
and here:
http://www.har.com/Houston-Real-Estate-Blogs/29893/275-Phoenix-Area-Foreclosed-Homes-Snapped-Up-By-LLC-Set-Up-By-Fannie-Mae
“It’s unclear who the buyer is, but 275 foreclosure houses across the
Phoenix metropolitan area were purchased through a very quiet $34
million cash deal at the end of July.
The Arizona Republic says Fannie Mae announced in February that it
would auction 2,490 foreclosure homes in Phoenix, Atlanta, Chicago,
Florida, Los Angeles and Las Vegas.
It was the first time the government-owned mortgage firm agreed to
openly sell groups of foreclosure houses located in just one metro area.
Since the crash, Fannie Mae and Freddie Mac usually have sold homes
they get back from lenders one by one, or in bulk with houses located
all over the country.”
———————–
If Fannie Mae is a government ran lending institution…How and why
would they create their own LLC and purchase the homes ( which they
already own ) from the themselves…It makes no sense to me except to make
the “housing numbers” appear better than what they are….
Im not an expert in the field by any means…I just thought it was very
interesting. If you could shed some light on it please post.
AR 15-SPECIALIST
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