It appears that big banks are getting into the residential rental business… and who can blame them? Since early 2009, TradeMark Residential inventory has been maxed over 97% occupied at any given time. We know rental rates are steadily climbing and see rental properties snatched up within an average of 20 days on the market. Banks are catching on and some are beginning to rent back directly to the foreclosed borrower. A healthy rental market will in time be a direct contributor to a repaired housing market, and to Americans confidence and net worth.
Please see full article below.
http://www.housingwire.com/2011/12/09/bofa-developing-foreclosure-rental-programs-to-deal-with-distressed-properties?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+housingwire%2FuOVI+%28HousingWire%29
