2009-07-30housingwire.com

The House of Representatives this week passed a bill that would authorize federally-insured depository institutions and banks to lease real estate-owned homes for a limited period of time — up to five years.

The House approved HR 2529, the Neighborhood Preservation Act, in a voice vote Wednesday. The bill’s language allows banks covered through the Federal Deposit Insurance Corp. to lease back houses it owns through foreclosure.



Comments:

catherine at 21:37 2009-07-30 said:
rent to own................butts in houses.............so very very sad............. Permalink

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