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:
  • BofA close to $16-bn settlement with US regulators
    Of the total amount, around $9 billion will be paid in fines to the federal government, state and other government entities and the rest in relief to distressed American homeowners ... a long-awaited turning point for BofA to surpass the legal issues ...
    08/7/2014 - 8:38 pm | View Link
  • 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 - 9:00 pm | View Link
  • New Bank of America whistle-blower emerges: More customer abuse secrets
    The result would be to leave struggling homeowners back at square one ... As detailed by an insider at Bank of America in a packet of documents, in January 2013, BofA sold servicing rights to 650,000 mortgages (worth $93 billion) to the parent company ...
    06/28/2013 - 9:32 pm | View Link
  • The Zacks Analyst Blog Highlights: Citigroup, Bank of America, JPMorgan Chase, Wells Fargo and U.S. Bancorp
    However, this was turning out to be costly and time-consuming affair ... in the long run it will be a relief for the banks. Further, the distressed homeowners would also be benefited. We are hopeful that like the earlier foreclosure settlement deal ...
    01/9/2013 - 6:44 am | View Link
  • Foreclosure Mess Finally Resolved
    However, this was turning out to be costly and time-consuming affair ... in the long run it will be a relief for the banks. Further, the distressed homeowners would also be benefited. We are hopeful that like the earlier foreclosure settlement deal ...
    01/8/2013 - 7:20 am | View Link
  • More
BING SEARCH:
  • Press Releases
    Susan G. Komen ® and Bank of America today announced the renewal of their long-standing partnership through 2020, with Bank of America pledging $3 million from its ...
    05/2/2015 - 6:54 pm | View Website
  • International Financing Review
    IFR is the world’s leading source of capital markets intelligence, and has been for nearly 40 years. It provides senior investment banking decision-makers with ...
    05/2/2015 - 1:04 pm | View Website
  • Distressed Debt | LeveragedLoan.com
    Newfleet Asset Management today announced it has hired Edwin Tai as a senior managing director and senior portfolio manager for distressed credit.
    05/1/2015 - 9:44 am | View Website
  • Loan Modification and Mortgage Foreclosure Scams
    Federal and state agencies today announced a sweeping round-up of alleged scam artists blamed for ripping off distressed homeowners across the country.
    05/1/2015 - 12:05 am | View Website
  • Bank of America Charitable Foundation funding opportunities
    Learn about the charitable foundation funding opportunities through Bank of America and find out more about the company's funding priorities.
    04/30/2015 - 4:16 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