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Arlene Shaw

(Credit: PAUL J. RICHARDS/AFP/Getty Images)

Turning Government-Owned Foreclosed Homes Into Rental Properties

With so many neighborhoods across the country surrounded by abandoned foreclosed properties that are dragging the value of the area down, President Obama has put out a call for ideas on how to convert the government-owned properties into rent-to-own homes for those who need them. A local expert chimes in.


(Photo by Michelle Durham)

Part 3: Can You Afford Your Own Home?

“Six-twenty was a high credit score four to five years ago — it was a good one,” notes one mortgage expert. “Today, purchasers are getting penalized even if they have a 700 credit score.”



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