A Post-Foreclosure Solution – What do you think?

Take our poll located to the right of our blog.

Question:

When homeowners lose their houses to foreclosure, should they be able to stay in the property by leasing it back at fair market rent from the lender?

foreclosure-sign

This option is getting a lot of attention in Washington.

The results will be posted in our follow up story next week.

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One response to this post.

  1. I believe the bank should be more proactive about working out a loan modification with the homeowner that includes interest reduction and/or principle reduction. It doesn’t make sense that the bank forecloses on the home and it sits vacant for months, sometime over a year. Properties will get damage and decline in value due to vandalism and lack of preventive maintenance. The banks don’t care when all along they could have worked something out with the homeowner. Again, every situation is different.

    Reply

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