Nephos has asked that I point out when I've been right. You may remember this little gem
I expect builders and banks both to start reaching out to management companies to rent all of these condos and houses that are starting to sit around. I don't know if there even are any national players, but that seems like a business that's going to seriously take off.
Fannie Mae is introducing the Deed-for-Lease Program (D4L), a program designed to minimize family displacement, deterioration of neighborhoods caused by vandalism and theft to vacant homes, and the effect these have on families, communities and home price stabilization. D4L allows qualifying borrowers of properties transferred through deed-in-lieu of foreclosure (DIL) to remain in their home and community by executing a lease of up to 12 months in conjunction with a DIL.
Servicers can begin offering D4L immediately.
Servicers are third parties. This is a great business. Short sale to Fannie Mae, then a third party charges enough so the tenant can't save up to buy back his or her house, but not so much that they have to evict.
Update: I should point out that was a 25-month lag