Urban Fold

Turning Foreclosures into Rentals

As the Federal Housing Administration looks for new ways of dealing with the nation's foreclosed homes, more voices are calling for those homes to be repurposed as 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.

Full Story: Plan would turn foreclosures into rentals

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