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:
  • Special Investigation: How America’s Biggest Bank Paid Its Fine for the 2008 Mortgage Crisis—With Phony Mortgages!
    the other $4.2 billion was to come in the form of financial relief for homeowners in danger of losing their homes to foreclosure. The settlement called for JPMorgan to reduce the amounts owed, modify the loan terms, and take other steps to help distressed ...
    10/22/2017 - 9:00 pm | View Link
  • BofA nears $16-$17B settlement with US
    Each of these deals is designed to offer some financial relief to homeowners, whose mortgages were bundled into securities by the banks in question and then sold to investors. The securities contained residential mortgages from borrowers who were unlikely ...
    08/6/2014 - 11:30 am | 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 ...
    05/27/2012 - 12:57 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 - 4:59 am | View Link
  • More
BING SEARCH:
  • Bofa Tries Turning Distressed Homeowners into Renters ...
    Bofa Tries Turning Distressed Homeowners into Renters . The Los Angeles Times (5/29, Reckard, Lazo, 630K) reports, "Unable to qualify for modifications on Bank of ...
    11/14/2017 - 4:43 am | View Website
  • 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 ...
    10/30/2017 - 11:40 pm | View Website
  • Homeowners Snub $150K Principal Reduction from Bank of America
    Homeowners are turning down big offers of principal reductions on their non-performing loans from Bank of America, leaving more potential deals for distressed ...
    09/18/2017 - 10:47 am | View Website
  • Bank of America
    Welcome to Bank of America, the nation's leading financial institution and home for all of your personal financial needs.
    12/6/2014 - 6:54 pm | View Website
  • New Bank of America whistle-blower emerges: More customer ...
    New Bank of America whistle-blower emerges: More ... of selling off distressed servicing ... bank is turning its customers over to a ...
    06/28/2013 - 3:23 pm | 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