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Should Banks be forced to rent out foreclosures?

July 31, 2011

Realtor Magazine reports that Congress has proposed requiring banks who have foreclosed on houses, to rent out those houses.  See the article here: http://realtormag.realtor.org/daily-news/2011/07/29/save-home-values-bill-asks-banks-rent-foreclosures.  The reasoning is that the rented property would provide low-cost housing alternatives and it would keep surrounding property values from being negatively impacted by a low payoff.  What do you think?

Patty Cunningham, Realtor®
Coldwell Banker Preferred
Exton, PA 19341
O.        610.363.6006
C.        610.659.4669
Lic #RS294054

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One Comment
  1. August 1, 2011 11:58 am

    This sounds like a win-win solution, solving at least two problems in one motion. Would these federally-subsidized banks then use the new income to pay back the government? They sure could use the cash….

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