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Message Subject
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Fasten Your Seat Belts - Preparingfor a Financial Crash Landing - Part One - February 11, 2008
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Poster Handle
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Anonymous Coward |
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Post Content
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Now I'm reading about banks thinking about allowing foreclosured owners a new deal: own to rent
In other words, instead of being kicked out of your house should you go into foreclosure, you can rent it back from the bank!
Isn't that nice of banks to consider this option? Hmm, I wonder how much rent they'll charge. Either way, the homeowner is out of his/her investment. Talk about owing your soul to the bank.
Although this type of deal will keep former homeowners off the street (does not apply to million-dollar homes); this subprime fiasco is getting quite insane.
Latest figures are 170,000 homes are foreclosured on each month in the USA. Wow.
This last statement seems a bit unbelievable...do you have a link for this?
Quoting: Lady WolfThere were more than 2.2 million foreclosure filings in 2007, a jump of more than 148 per cent from 2005. [ link to www.cbc.ca]
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