Federal Reserve Chairman, Ben Bernanke, cited a plan to pilot a program early this year which would convert government-owned foreclosure properties into rentals. Foreclosures now owned by Fannie Mae, Freddie Mac and HUD would be sold to investors in bulk. Is this new government foreclosure plan a good deal?After recently acquiring $450 million in vacant foreclosed homes with a plan to rent them out, John Brady, Oaktree Capital Management's head of global real estate, said, "We believe that this … [Read more...]