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Banks starting to buy back hoemowner's properties

March 30th, 2012 | posted by joatmon

There are a few banks out there, BoA is one, who are offering homeowners money for selling there house for them as well as offering to buy back their house. They will buy them back from the homeowners and forgive the loans, then lease them back to the homeowner for 3-5 years with the option to buy at a lower value than what they are worth provided the homeowner is earning income. This will help homeowners that are currently in trouble but will also reduce the market when it comes to available properties.

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