In your opinion how would this bill if passed effect various aspects of the housing market both positively and negatively?
I think banks would make a management mess out of foreclosed on home owners now tenants of their once owned properties.
Investment properties for sale with long term tenantsalready in place maybe a big boost to investment properties sales.
This could result in a large surge of jobs for PM positions.
Landlord Tenant courts would be more over crowded and greater time delays for a eviction court date as well as sheriff lock outs being more crowded and behind then they already are.
Would this stop the short sale make a huge profit for those in the loop of the banking elite?
Book sales/program sales for how to manage problem tenants would sore.
Apparently, Congress thinks that rent is considerably lower than a house payment. If the homeowner can’t afford the house payment, how is he going to afford the rent?
Five years? The right to remain? What congress is doing is illegally seizing the assets of the banks.
I’m interested in How the “rent price” is going to be determined.
It is a fact that in many markets, rents are substantially less than mortgage payments…it is cheaper to rent than to own. I read an article just this morning that in Seattle and other West coast markets, renting is $1000 per month less than buying.
If I am able to live in my house at $1000 per month less and not do the maintenance or tax increases then I am going to be very interested in this.