Homeowners could rent their homes after a foreclosure
By Hicbd
Thu Mar 28 2013 7:32 am
The "Right-to-Rent" concept allows homeowners to pay fair market rents (determined by an independent appraiser) after a home is foreclosed on. This could allow homeowners to stay in their homes and prevent depreciation in value of other homes in the neighborhood.
In addition, private companies (like the American Homeowner Preservation) could "find a buyer for a house facing foreclosure, convince the bank to do a short sale, and work out an agreement with the buyer to allow the former owner to stay in the house as a renter."
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