By KARIN ROBISON Editor's note: This guest perspective, by a real estate broker and former remote asset manager, proposes a foreclosure prevention program that re-envisions lenders as landlords and underwater homeowners as renters. Inman News wants to hear from you about personal experiences working with distressed properties and opportunities to remedy this foreclosure mess. Click here for details on how to participate. When foreclosures started increasing in number, the top reason was that lenders were giving too much to too many without proper checks and balances -- sometimes fraudulently, but more often within the lax underwriting practices at that time. The second reason was that buyers were using their home as ATM machines, borrowing more and more because they could, and in some cases with no intention of ever making the first payment, let alone subsequent payments. They even flipped homes with no value added -- right at the closing table -- with no controls imposed. W...
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