Fed gives its OK to rent foreclosed homes

04/6/2012 | Bloomberg · Wall Street Journal, The

Because of the "extraordinary market conditions that currently prevail," the Federal Reserve has given its approval to banks to rent out foreclosed homes instead of trying to sell them as quickly as possible. The Fed says that banks, among other things, should set policies regarding which homes will be rented and if they're safe for occupancy.

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Bloomberg · Wall Street Journal, The

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