Grijalva Hails Bank of America Program to Keep Families Facing Foreclosure in Homes as Renters – Similar to His Right-to-Rent Bill

Washington, D.C. – March 27, 2012 – (RealEstateRama) — Rep. Raúl M. Grijalva today hailed a new Bank of America pilot program that will offer a small number of customers facing foreclosure the option to remain in their homes as renters for up to three years. The program closely mirrors his Right-to-Rent Act, introduced last year and in previous Congresses, that would let families facing foreclosure rent their homes for up to five years at a fair market rate set by a judge.