Gary Miller (R-Brea) and several other inland legislators are asking the Federal Housing Finance Agency to stay out of Southern California while testing a pilot program in which foreclosures would be sold in bulk to institutional investors.
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Related:
REO-To-Rental Pilot Transaction Announced Feb. 27, 2012
The next step is being taken in a plan to convert repossessed residential real estate into rental properties.
REO-to-Rental Program Takes Shape Feb. 1, 2012
The much-anticipated program that will convert real-estate-owned properties into rentals is now underway.
Administration Unveils REO Rental Proposals Aug. 10, 2011
The Barack Obama administration is seeking public comment on using repossessed homes as rental properties. Among proposals on the table are lease-to-own and borrower-to-renter programs.
