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You Don’t Get More for Less, You Get Less for Less. Ask GMAC

Receiving Wide Coverage ...

Landlord of America? Bank of America is testing a “mortgage to lease” program that lets struggling borrowers stay in their homes by signing over the deeds and renting the properties back from the lender, the papers report. The bank could eventually sell the homes to investors willing to keep them as rentals. It’s a small program for now — on Thursday, B of A sent 1,000 offers to homeowners in three states…

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