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Economy

dixiegrrrrl

(60,153 posts)

4. Wonder how much rent the banks intend to charge.

Reply to Royal Sloan 09 (Original post)

Fri Mar 23, 2012, 07:18 AM

Mar 2012

So the banks will end up with a renter in the foreclosed home, instead of an empty foreclosed home.
And in order to have the debt "forgiven" there will most likely be a iron clad lease, trapping the people in the home they once owned.
If people cannot afford a mortgage, will they be able to afford a bank set rental amount?

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Bank of America tests new home foreclosure program [View all] Royal Sloan 09 Mar 2012 OP

Must have found loopholes already. nt Mnemosyne Mar 2012 #1

yup th1977sk Mar 2012 #5

Welcome th1977sk! We know the only time they do anything, is when it benefits them. No other reason. Mnemosyne Mar 2012 #7

This is where the government should have allowed "cram downs" via bankruptcy DJ13 Mar 2012 #2

I wonder if the people will have Ilsa Mar 2012 #3

Wonder how much rent the banks intend to charge. dixiegrrrrl Mar 2012 #4

The broader question Po_d Mainiac Mar 2012 #6