Turning Foreclosures into Rentals
"A foreclosed home is a problem for the neighbors, the bank that owns it, certainly the family that lost it -- but it's a problem for the rest of us, too. Banks price them at rock-bottom to get rid of them, and that depresses prices for the whole market. The government, through Fannie Mae, Freddie Mac, the Federal Housing Administration -- own hundreds of thousands of foreclosed homes."
Officials are trying to find ways to entice banks into renting out those foreclosures.