Bank of America Mortgage to Lease program may be coming to Columbia SC 26 Monday Mar 2012 Posted by rozalynf in Columbia tell me what you think? ≈ 1 Comment Tagsbankofamericamortgagetoleaseprogramcolubiasc Bank of America Mortgage to Lease program Bank of America has announced a new pilot program that is suppose to help default home owners stay in their homes. This program has not been launched in Columbia SC yet. Bank of America’s innovative idea is designed to help foreclosed property by turning a homeowner into a renter and eventually sell the property to an investor as an appealing profit producing package. This is a highly innovative idea. They offer home owners a chance to sign a “deed-in-lieu” in foreclosure, and stay in their homes at a reduced rental rate for one year with a possibility of renewing the lease at the rate the bank determines. Giving the bank a tenant to maintain the property and time to hope that the market rebounds and they can get more equity for the property. To read the full article click below. http://www.cnbc.com/id/46829774/Bank_of_America_Getting_Into_the_Landlord_Business Share this:Tweet Print (Opens in new window) Print Email a link to a friend (Opens in new window) Email Like this:Like Loading...
