Released: May 26, 2012
BofA tries turning distressed homeowners into renters
Source: E. Scott Reckard and Alejandro Lazo, Los Angeles Times
Bank of America is testing a mortgage-to-lease program in four states. The idea: Instead of evicting homeowners who face foreclosure, it lets them stay as tenants and sells the homes to investors.Read Full Article: BofA tries turning distressed homeowners into renters