So We Now Hear Renters Are Bad People (Own to Rent Edition)

"But as ideas go, this isn't a bad one (and it turns out some conservative economists support it). The bank was going to wind up owning the property anyhow. This move saves them the considerable expense of foreclosure (reported to commonly be $50,000) and gets them cash flow right away. It saves them the hassle of disposal in a down market and the burden of certain aspects of property maintenance (the tenant will mow the lawn). It also prevents the specter, which is apparently happening in some neighborhoods, of empty properties creating an image of desperation (highly damaging to the sales process) and in some cases, squatters moving in."