Bofa Tries Turning Distressed Homeowners Into Renters

Bank of America is testing a mortgage-to-lease program in four states. The idea: Instead of evicting homeowners who face foreclosure, it lets them stay as tenants and sells the homes to investors.Unable to qualify for modifications on Bank of America mortgages, a few of California's most distressed homeowners are being offered one last chance to stay in their homes: Become renters instead.

Topics:  bank   california   america   renters   distressed homeowners   stay   homes   
BING NEWS:
  • Fair housing groups turn up heat over BofA’s REO practices
    “Every day Bank of America continues to neglect homes it owns in communities of color and prices decline, allowing investors to snatch up these foreclosures, turning communities ... affect home values and wealth of homeowners in communities of color ...
    09/24/2013 - 1:00 pm | View Link
  • BofA Merrill Lynch Fund Manager Survey Finds Investors Increasingly Bullish as Global Economy Regain
    Its growth composite indicator now stands at a striking reading of 96. Against this background, global fund managers are turning more positive. A net 3 percent are now overweight Japanese equities, a sharp reversal of last month's net 20 percent underweight.
    01/15/2013 - 12:33 am | View Link
  • Did Fannie Mae Pay Too Much in BofA Deal?
    Fannie Mae estimated it would reduce losses by between $1.7 billion and $2.7 billion by turning the loans over to a specialty servicer. The GSE has the option of transferring servicing rights ""for cause"" without paying any fees to the current servicer ...
    09/18/2012 - 1:00 pm | View Link
  • BofA tries home rental program
    Unable to qualify for modifications on Bank of America mortgages, a few of California's most distressed homeowners are being offered one last chance to stay in their homes: Become renters instead. Testing a mortgage-to-lease program in the Golden State ...
    05/26/2012 - 1:00 am | View Link
  • BofA enhances short sale incentive up to $30,000
    later turning into foreclosures and short sales. Thus short sales continue to increase, especially in Southern California, as lenders streamline processes and create attractive offers to help distressed homeowners. A short sale allows a homeowner to avoid ...
    05/25/2012 - 9:53 am | View Link
  • More
BING SEARCH:
  • For distressed homeowners, short sales on the rise : Business
    Owners in distress sell home for less than mortgage, and bank forgives most of the rest.
    04/16/2014 - 9:18 pm | View Website
  • I Support John Wright and All Americans That Have Been ...
    The Sermon On Mount Piggybankblog. . Written by John Wright April 25th, 2013 . Yourlisten Audio Player contacted me because they said that an interview I gave with ...
    04/16/2014 - 1:47 pm | View Website
  • Bank of America and Equator (Formerly REOTrans)...Short ...
    Update: Bank of America Ramping up Their Short Sale Program I am sure you are all thinking that I am in outer space mentioning nirvana and Bank of America
    04/16/2014 - 11:53 am | View Website
  • Has HAMP Gotten Any Better at Helping Distressed Homeowners?
    Reality TV star Kristin Cavallari's family home in Laguna Beach, Calif., was foreclosed on earlier this year, according to public records. See more photos ...
    04/16/2014 - 10:41 am | View Website
  • Habitat for Humanity Portland/Metro East
    Trek To El Salvador with Habitat Staff and Volunteers! Habitat for Humanity Portland/Metro East has built over 260 homes in the Portland Metro area, but did you know ...
    04/16/2014 - 10:13 am | View Website
  • More
Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News