Bernanke calls for nationwide REO rental program

Bernanke calls for nationwide REO rental program HousingWire . Do we really want the government to become a landlord to all the empty house? What are your thoughts? The government should consider helping the nation’s vacant, unsold stock of foreclosed properties by supporting initiatives to occupy.

From HousingWire: Home prices decline 4.3% in November: CoreLogic Home prices nationwide fell 4.3% year-over-year in the month of November, according to analytics firm CoreLogic in its November Home Price Index. Santa Ana, Calif.-based CoreLogic said home prices declined 1.4%. Continue reading

The administration says it is pursuing potential ideas for REO-to-rental pilot programs ""with a sense of urgency,"" but two California firms don’t plan to wait on the government’s involvement.

The Salvation Army runs one such program, and Catholic Charities has another program (your tenant doesn’t have to be Catholic to qualify for help). These programs may help a victim get back on her feet and back to paying rent on schedule, or buy her some time to find other housing while you get paid your rent in the short-term.

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 · A strong rip current of distress continues to threaten the U.S. housing market despite the absence of a giant wave of bank foreclosures in 2012.

Indeed, they argue that in many cases REO-to-rentals may be inappropriate. Yet unless mortgage origination requirements, with tighter underwriting standards, are loosened in the immediate future, borrowers may have little choice but to rent. Furthermore, support for such a program will cost mortgage servicers, bond investors and even taxpayers.

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New York AG to sue Wells Fargo and Bank of America New York Attorney General Eric Schneiderman said he intends to sue Bank of America, along with Wells Fargo (WF), last month. Florida borrowers and refuses to specifically respond to the AG’s.

Rent-to-own Housing Contracts under nancial constraints SANJIV JAGGIA and PRATISH PATEL Preliminary Draft: March 10, 2015 ABSTRACT Due to tougher lending standards, Rent-to-Own (RTO) contracts are getting popular.

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