own to rent

In the latest issue of The New Yorker, James Surowiecki  weighs in on something TWI wrote about recently: The need for a new — and bolder — foreclosure strategy. Foreclosures continue to outpace loan modifications, even as the Obama administration presses the lending industry to do more. And in some communities, it’s not just the [...]

That’s the idea that was being tossed around yesterday in the Senate, where several White House officials testified before the Banking Committee on the early failure of federal efforts to control the rising tide of foreclosures.
It was Sen. Charles Schumer (D-N.Y.) to broach the topic, proposing a plan that would allow struggling homeowners on the [...]

Is the Obama administration planning a major shift in strategy for slowing the foreclosure rate? Reuters reported Tuesday that officials are mulling policies to let delinquent owners rent their homes back. On Monday, Reuters said the administration also was considering letting unemployed borrowers defer, delay or skip mortgage payments so they can stay in their [...]