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Nick Miller's Blog – March 2012 Archive (2)

BofA to test new Foreclosure Pilot Program

Bank of America has started a new foreclosure/lease program where they will allow some delinquent home owners transfer title back to BofA (forgiving their mortgage) and in return,BofA will lease the home back to the owner at or below market rents for up to 3 years. In my opinion, this "Mortgage to Lease" pilot program will never work and is merely a way of trying to regain favor in the public…

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Added by Nick Miller on March 24, 2012 at 2:22pm — 2 Comments

Robo Signing Settlement may Release a Backlog of Foreclosed Properties.

The $25 billion robo signing settlement was reached with 5 banks recently, but what effect is this really going to have. For most of us, nothing. But even for those who will receive payment from the settlement it will be very minimal.

However, this will have a hugh impact on the market. These banks are most likely getting ready to release a ton of foreclosures on the market that were previously unreleased because they were tied up in this litigation. Now that they have settled, and…

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Added by Nick Miller on March 11, 2012 at 4:16pm — 1 Comment

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