Sociable

Thursday, September 23, 2010

Right to rent instead of foreclosure?

Read this.

The report dissects the benefits of a drafted bill, H.R. 5028, also known as The Right to Rent. Under the legislation, homeowners entering the foreclosure process would be able to occupy their homes for up to five years, while paying rent to a lender. Rent would be based on fair market price as determined by an independent appraiser and adjusted annually.
I'm really trying to figure out the purpose of this legislation.  Is it help home owners, banks, or keep homes of the market?  I also don't know why the government thinks higher home prices are good for the economy.

Read it all

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