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Bill would let defaulted owner rent former home »

Posted by: engineer 2 months, 3 weeks ago

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The mortgage lender could still resell the home, but the new buyer would have to agree to keep the previous owners as tenants for as long as they want to stay there. An independent appraiser would determine the price of rent.

Read Full Story at azcentral.com

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engineer2 months, 3 weeks ago

The deal would apply only to owners of homes valued at or below the market's median price. A summary of the bill can be found at www.cepr.net.
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  engineer2 months, 3 weeks ago
  
  This is a great idea for everybody
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    chapelhillNC2 months, 3 weeks ago
    
    I wonder if this would make lenders even more selective in choosing buyers. I would not think that owners generally would want unreliable tenants, at least from a business standpoint.
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    chapelhillNC2 months, 3 weeks ago
    
    I guess I am questioning whether this is good for everyone.
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Condrad2 months, 3 weeks ago

A mortgage is rather complex thing for me. Not long ago on the web-site of Fizber I've found the service which is called Mortgage Calculators. To my mind it can simplify the things:
http://www.fizber.com/sale-by-owner-home-servic...

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