Archive for the ‘Community Information’ Category

Home for Sale in Brooklyn? Why Disclosure Is Important

Thursday, June 10th, 2010

If you have a home for sale in Brooklyn or anywhere else in the U.S., you may have heard of the term “disclosure.”  What is it, why is it important, and what does it entail?

What is disclosure?

First, disclosure is the act of informing a buyer about any issues that your home for sale in Brooklyn may have. For instance, if the home has water damage in the basement, you may have to tell the potential buyer about it. I say, “may have to,” because in some states disclosure is a legal issue. In some states, not disclosing issues may be illegal, while in other states, non-disclosure is perfectly legal.

Why is disclosure important?

Real estate transactions are fraught with pitfalls, many of which can end with a lawsuit. Non-disclosure is one of the pitfalls. Several sales throughout the years have ended in non-disclosure lawsuits, where the homebuyer believes, basically, that the homeowner knew a problem existed. The seller didn’t let the buyer know about the issue, which left the buyer feeling as if they’d been scammed – thus, the lawsuit.

What should I disclose to the buyer?

Many real estate agents (including myself), follow a simple rule when it comes to disclosure. “If you wonder whether you should tell the buyer about something, you probably should.” While disclosing problems may mean a lower sales price, not sharing may have you paying more than you ever wanted to in legal fees.

Some things, such as a violent death in the house, have a statute of limitations in most states. For instance, with few exceptions, California Civil Code 1710.2 requires that you tell the potential buyer if the death happened less than three years prior.

Certain disclosures are required, such as lead based paint, the presence of asbestos, or if there’s ever been toxic mold or termites. The rest of the requirements vary from state to state.

As you can see, disclosure isn’t a minor issue. What you have to share versus what you should share, however, all depends on whether you have a home for sale in Brooklyn or elsewhere in the U.S. If you’re up front, you’ll have a much better chance of keeping the money you made off the sale, versus spending it in legal fees.

If you’re trying to sell your home, I can help. Call me at (718) 253-9600 ext.206 or email me at [email protected] for more information.


Charles D’Alessandro

[email protected]
tel 718 253-9600
fax 718 253-9573
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A Tree Falls In Brooklyn- Brooklyn Real Estate A New Beginning!

Saturday, March 27th, 2010

As Maria and I take our morning walk around Maine Park Brooklyn we are amazed by the devastation of the many fallen trees from the past storm, 60 in all! Some of the trees are as much as 80 years of age. Our thoughts where, how terrible this is all these trees we will never recover from this it may never be the same again,

Then we walked past to the Marine Park Nature Center, a little further ahead, there where many young trees that where planted a few years back. The trees where budding with flowers and new leaves.  The birds seemed to be getting ready to find the perfect spot to nest and raise their new families, spring is on its way.” A New Beginning”!

In my thoughts where the similarities with the Brooklyn real estate market for the past couple of years. Like the mighty oaks we have grown accustom to seeing each day, as we walk by them full of life expecting continued growth year after year, now is time for us to plant new trees for future generations to enjoy and watch grow.

2010 is that time for growth in our financial markets as well as the Brooklyn Real Estate market. Spring is on its way! It’s time for us to look for that nest to enjoy, and raise our families

The storm has past, time to clean up and start new. For some it may be time to clean up credit reports and others may want to go over their own financial statements and create goal to buy in the future. I believe it is time for a new beginning. Future generations will see 2010 as the beginning of their time of growth.

For others who have waited out the storm “The Clock Is Ticking”, the Federal Home Buyers Tax credit runs out on April 30th and may never return. This may be you “Perfect Storm”, Low interest rates, fallen prices, Lots of Inventory to select from.

You do not want to be the one to look back and say I shouldda or couldda but didn’t! Make 2010 the time for your new beginning, and start building for your future If you are interested in finding your  Brooklyn home or creating a plan for one in the future call Charles D’Alessandro at Fillmore Real Estate my # is (718) 253-9699 or email me [email protected]


Charles D’Alessandro

[email protected]
tel 718 253-9600
fax 718 253-9573
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How to Make the Kitchen in My Brooklyn Home More Energy Efficient

Monday, January 25th, 2010

The kitchen in your Brooklyn home offers multiple ways to improve energy efficiency.  It can be challenging to have versatility, style, comfort and design while still being energy efficient.  The good news is that small changes can be easy to make, without breaking your redecorating budget.

  • Use the appropriate cooking utensils in your kitchen.  Most electric stoves are equipped with two small burners, and two large ones.  Make sure that you are using your small pans on the small burners, and large pans on the larger burners.  Using a small pan on a large burner wastes energy, adds heat to kitchen, and may cause the handles to warp on the pans if they become too hot.  Place lids on your pots and pans when they are on the stove, this will conserve the heat and decrease the workload on your cooling system.
  • Repair dripping sink faucets in the kitchen.  You can replace the faucet in your Brooklyn home inexpensively.  A few drips on a constant basis adds up to gallons of wasted water.  Replacing the faucet can substantially decrease the amount of water you use.
  • Run the dishwasher only when it’s full.  There are several ways to save energy with the dishwasher.  Make sure that the appliance itself is energy efficient.  Next, scrape the dishes before you load them.  This may allow you to set the wash cycle to a light or normal wash, instead of a heavy wash cycle.  Set the drying cycle to air dry.  Air-dry cycles decrease the amount of heat the appliance creates.  These tips will save a lot of water and energy.

It’s easier than you may think to update the kitchen in yourBrooklyn home using green appliances and energy-saving methods.  Depending on what you buy, you may also qualify for a federal tax credit for energy efficiency.

Want to buy an energy-efficient home?  Call me now at (718) 253 -9600 ext.206 or email me at email [email protected] for more information.


Charles D’Alessandro

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Hud Announces Billions For Recovery Grants To Help Stabilize Brooklyn Neighborhoods

Sunday, January 17th, 2010

HUD SECRETARY DONOVAN ANNOUNCES $2 BILLION IN RECOVERY ACT GRANTS TO STABILIZE NEIGHBORHOODS, REBUILD LOCAL ECONOMIES
Stabilization grants to help neighborhoods recover from the housing crisis

WASHINGTON – U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced today that HUD is awarding $2 billion in Recovery Act funding to states, local governments and non-profit housing developers, under HUD’s Neighborhood Stabilization Program (NSP), to spur economic development in hard-hit communities and create jobs. Nearly 60 grantees are receiving awards. A full list of grants awarded today can be found on HUD’s Recovery Act website.

Funded through the American Recovery and Reinvestment Act, this round of NSP grants is being awarded competitively to applicants who developed the most innovative ideas to rebuild local communities, while demonstrating that they have the capacity to be responsible stewards of taxpayer dollars.

“By investing Recovery Act dollars in revitalizing hard-hit neighborhoods, we’re not only creating new job opportunities, but giving communities across the country an opportunity for a fresh start,” said Vice President Biden. “These competitive awards go to the heart of the Recovery Act: funding innovative projects that both provide immediate relief and help lay a new foundation for long-term economic growth.”

“Vacant homes have a debilitating effect on neighborhoods and often lead to reduced property values, blight, and neighborhood decay,” said Donovan. “This additional $2 billion in Recovery Act funding will help stabilize hard hit communities by turning vacant homes into affordable housing opportunities. The Neighborhood Stabilization program is a key part of the Obama Administration’s comprehensive approach to address the national housing and economic crisis.”

The $2 billion in NSP grants being awarded today will build on the work being done now to help state and local governments and non-profit developers collaborate to acquire land and property; to demolish or rehabilitate abandoned properties; and/or to offer down-payment and closing cost assistance to low- to middle-income homebuyers. Grantees can also create “land banks” to assemble, temporarily manage, and dispose of foreclosed homes.

The awards will also require housing counseling for families receiving homebuyer assistance funds through NSP. In addition, it will protect homebuyers by requiring grantees to ensure that new homebuyers under this program obtain a mortgage from a lender who agrees to comply with sound lending practices.

The Neighborhood Stabilization Program was created to redevelop hard-hit communities, create jobs, and grow local economies by providing communities with the resources to purchase and rehabilitate vacant homes and convert them to affordable housing. Last year, HUD awarded nearly $4 billion in NSP formula funds to over 300 grantees nationwide to help state and local governments respond to the housing crisis and falling home values.

In addition, on August 26, 2009, HUD awarded $50 million in technical assistance grants to help grantees more effectively manage the inventory of abandoned homes they purchase under the Neighborhood Stabilization Program. HUD’s NSP technical assistance grants are helping NSP recipients to implement sound underwriting, management, and fiscal controls; measure outcomes created by public funds; build the capacity of public-private partnerships; develop strategies to serve low-income households; incorporate energy efficiency into NSP programs; provide support, and training on the operation of ‘land banks’; and train NSP recipients on HUD program rules and financial management requirements.

President Obama signed the Recovery Act into law on February 17, 2009 as the country faced the greatest economic crisis since the Great Depression. The $787 billion Recovery Act program has already provided nearly $100 billion in tax relief for families and businesses, helped fill critical budget gaps for hard-hit state and local governments and jump-started tens of thousands of projects that are creating jobs and laying a new foundation for long-term economic growth. To learn more about the story of the Recovery Act, visit www.WhiteHouse.gov/Recovery. To follow Recovery Act dollars, visit www.Recovery.gov.

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HUD is the nation’s housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation’s fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.


Charles D’Alessandro

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Living Across From The Brooklyn Parks

Tuesday, January 12th, 2010

In Memory Of  The Man  Carmine Carro President Of Marine Park Civic Association Brooklyn New York! Carmine dedicated his life to Family, Friends, the Community!

I was born at home 23 North Elliott Place in 1935.   Less then 25 yards from the entrance of “City Park”.  I know that the official name is “Commander Barry Park”,But everyone I knew called it “City Park”.   It was not a very large park.  Bounded by Flushing Avenue to Park Avenue on the east and west, and Navy Street to North Elliott Place (North and South).   The area of the park nearest to North Elliott Place was enclosed by a 6ft. fence with no gates.   If my memory serves me there were seven entrances on Park Avenue, Flushing Avenue, , and North Elliott Place.   This area consisted of two rectangle patches of grass and benches around the perimeter black top and several trees. The rest of the area was enclosed with a twenty foot high cyclone fence with two heavy  gates that were locked each night at dusk.   The fenced in area contained two  large baseball fields with bleachers, eight hand ball courts, one black top softball field, four black top tennis courts, basketball courts, a wading pool and sprinklers sand boxes, swings, monkey bars, slides and sea saws.  The park staff was lead by a large Irish man named Dan.. Hehad six “parkies” of different races and nationalities , a recreatin director, and a matron. They were all housed in the field house that also contained the bathrooms. Big Dan ran the park with an Iron Fist and to a ten year old his six foot four inch height might as well been ten foot tall, when he screamed down at them,”Get off that damn bike” orDon’t roller skate in my park”. I can just see a park foreman talking  like that to kids today. He would wind up being sued. But City Park under and his crew had no Graffiti, no Vandalism, and was a sake haven for all kids alone or in a group. Your worst fear was Dan catching you doing something wrong and telling you “your not allowed in my park for a month”. God help you if you showed up twenty eight days later. You would be banned for another week. We never saw him write anthing down. (But he knew!)Unlike today there were very few organize sport back then for kids.  If you wanted to play touch football you rolled up newspaper and taped it with block electrical tape.     No one I knew owned a football or basketball.   So what you did was go to the field house an leave the recreational director or the matron your library card, a chain, or a key and they would give you a basketball, knock hockey, tennis racket, or other pieces of equipment.   When you returned what you borrowed you got your deposit back.   I spent many hours sitting on a branch of the tree between home plate and third base near the blacktop softball field.   I had my own skybox watching the older guys playing softball.   It amazed me how the outfielders played “The Tree”.   The Tree was a forty foot or more high oak  right in the middle of center field.   When a ball was hit into the tree the outfielders would circle under the tree waiting for the ball.   The runners had to wait to see if the ball was caught before they could advance.   As the older guys got to know me and the vantage point I had,I could see the whole field they would ask, “Hay Kid was that guy safe or out” Depending on how they like your call they would either give me a soda or throw their glove at me.

Now! The ground crew at Yankee Stadium could have learned from Big Dan and his crew how to maintain a baseball field.   The grass baseball field were manicured every Sunday.  Teams would come from everywhere to play.  The Brown Bombers, from the Bronx, the Blue Birds from Williamsberg, the Cadets from Queens.  Players like “Buck Wingo” who had one arm and fielded and hit with the best of them.  The pitcher “Mukie”, who showed up with hats for all teams and pitched   2 or 3 games in one day for whatever team paid him the most.  The guy for the Brown Bombers who hit a shot one Sunday to straight away center that cleared the twenty foot fence, the flag pole and the field house and landed in the blacktop softball field.  That ball started on Park Avenue and came to rest on Flushing Avenue.   All  other games were played in season.  There was no calender, but all the kids started and seem to change at the same time.    There was a time for Punch ball, stick ball, touch football.  Stoop ball, Ring a Leve Oh, Johnny on the Pony, Giant
Step, Corks, carpet guns, and scooters.  Scooters were made with one old roll skate, a two by four, awooden produce box, some nails, a hammer, and a lot of imagination.  Decorations included Bottle Caps, tin cans, and reflectors which you borrowed from trucks parked in the neighborhood.

Hours were spent listening to the radio shows like Jack  Armstrong the All American Boy, Sgt. Preston, the Green Hornet.  I spent more hours with my moms clothes pin bag.  The clothes pins became a standing armies catapults, tanks traps, cars, trucks, and connons.  My sister Jean would listen for the Announcers last word from My programs and switch radio channels to Martin Block and the Make Believe Ballroom.  It never failed as soon as she tuned in Martin Block would say, ” and that concludes fifteen minutes of Frank Sinatra, Tony Bennet, or whoever and she screamed for fifteen minutes more.

During World War II the center of the park was taken over by the army.  They had dug in gun emplacement for anti-aircraft guns to protect the Brooklyn Navy Yard.  They also had guns on the roof of the Navy building up the block.  Tanks, army trucks, anti-aircraft guns, and the tents all across the street from my house.  My clothes pin army had turned into the real thing.  We felt very adult as we collected scrap metal for the war effort or walk the block with my uncle who was an Air Raid Warden.  During blackout if the windows were not covered right Uncle Carmine would blow his whistle and yell, ” don’t you know there’s a war on”.   One Sunday mom cooked a big meal for my fathers brother and his large family.  For some reason they called to canceled at the last minute.  Mom told me to go across the park and invite eight soldiers to have Sunday dinner with us.  Between mom’s homemade pasta, ( we called it macaroni back then) and the two gallons of homemade red wine my dad brought home.  Those guys had a meal to remember.  As I remember on G.I. said, ” I feel like I died and went to hog heaven”.  I forgot to mention my older brother Angelo was in the Navy serving in the Pacific.  I guess this was mom and dad’s way to say thank you, to my brothers comrades in arms.

As a kid my life revolved within the points of a triangle that covered less then 1/2 a mile.  At one point was home at 23 North Elliott Place.  Across the street to City park and up the block to P.S. 67.  Also inside my triangle was RoseMarie Gerbasio who lived at 35 North Elliott Place.  On June 2, 1956 RoseMarie, I, and our families went to St. Michael St. Edwards Church  inside then triangle and were married.  That was over forty years ago.  Right after we were married I started a small meat market at 33 North Elliott Place called Park Side Meat Market.  (What else)  Both our children Michael and Maria were born inside the triangle at Brooklyn Hospital.  They were christened at St. Michael St. Edwards Church.  I watched from my meat market as RoseMarie pushed the carriage into City Park.  I watched my son run the same bases I had earlier.  Unfortunately Michael and Maria never got to meet Big Dan or the parkies Fred, Bill, and Joe who had all retired.  But they both got to meet the recreation director Paul Morabito who became an attorney.

After twenty-nine years we decided to move.  After looking at many houses in different areas we chose a house on Avenue S “Across from the park”.  Paul Morabito acted as our attorney at our house closing.  A few years before me moved in I was coaching a sandlot football team called the Baron’s in City Park.  We traveled to Marine Park to play the Titans at their home field.  It was a cold winter’s day in November.  As we stood on the sidelines with the wind blowing in off the creek on Avenue U I lookeed around the perimeter of the park and said, “anyone who buys a house here has to be crazy”.  A year later we moved in and have been there for over thirty years.  So you know where I am coming from.

When our neighbors from downtown came to visit us, my father-in-law Jim would ask “How is everything in the city?”  And when our daughter married and became our attached neighbor, we had the best of both worlds we could walk to work, but lived in “the country.”  The first time my grandson’s Charles and Carmine asked me, “Grandpa can you cross us, to play in the park?”, I had a flashback of over fiftyr years and saw myself at 5 or 6 years old saying, “Ma! can you cross me I want to play in the park!”, I would only add one more word to the bumper sticker on my car which says, “I love Marine Park.”  That word is Truly.  “I Truly Love Marine Park.”

Written by Carmine Carro

President

Marine Park Civic Association

1993-2005

The U.S. Census Bureau is recruiting for temporary work!

Sunday, January 10th, 2010

2010 Census Jobs

The U.S. Census Bureau is recruiting temporary, part-time census takers for the 2010 Census. These short-term jobs offer good pay, flexible hours, paid training, and reimbursement for authorized work-related expenses, such as mileage incurred while conducting census work. Best of all, census takers work right in their own communities.

Census taker jobs are excellent for people who want to work part-time, those who are between jobs, or just about anyone who wants to earn extra money while performing an important service for their community.
Click to watch video clips about being a census taker
Hundreds of thousands are needed for temporary jobs

Conducting the census is a huge undertaking. Hundreds of thousands of census takers are needed nationwide to help locate households and conduct brief personal interviews with residents. Most positions require a valid driver’s license and use of a vehicle. However, use of public transportation may be authorized in certain areas.
Your community is counting on you

Every 10 years, the Census Bureau takes a snapshot of our population, determining how many people reside within the nation’s borders, who they are, and where they live. The results help determine your representation in government, as well as how federal funds are spent in your community on things like roads, parks, housing, schools, and public safety. As a census taker, you’ll play a vital role in making sure that everyone is counted.
Bilingual speakers are encouraged to apply

All census takers must be able to speak English, but people who have bilingual skills are needed in communities where a large number of residents primarily speak other languages. If you have the appropriate language skills and cultural knowledge to communicate well in your community, we encourage you to apply.

Apply today by contacting your Local Census Office or by calling 1-866-861


Charles D’Alessandro

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Get Rid of Clutter in Your Brooklyn Homes

Thursday, January 7th, 2010


Getting rid of clutter in your Brooklyn homes can be a challenge for anyone.  We are overwhelmed with junk mail, paper from our children’s school, bills, magazines, trinkets, toys and clothes.  It can be difficult to sort through the mess to determine what we really need.  Even when the clutter is all sorted, new clutter seems to replace it overnight.  There are several ways that you can get rid of the mess in your home.

  • Start in one room and finish it.  It can be overwhelming to try to organize a whole house.  Start in one room and go through it.  Discard things that you have not used in the last six months.  If you have not worn it or used it in that time, then you don’t need it.  Discard all broken or stained items.  You aren’t going to fix them, or you would already have done it.
  • Throw things away.  Don’t set things aside to sort later, just in case you may need it.  When sorting, make a bin of items to keep and a bin of things to throw away.  Getting in the habit of discarding unneeded items can be difficult at first, but it will drastically cut down on clutter in your Brooklyn homes.
  • Give things away.  Get rid of clutter and help those in need by donating items that you’re no longer using.
  • Label your storage bins.  Many times clutter develops because there is no set place to put things.  For instance, in the toy room, have individual storage bins for toy cars, railroad tracks, dolls and crayons.  Each bin should be clearly labeled so that all family members can participate in putting things where they’re supposed to go.  With young children, it may be helpful to take a picture of the items that go in the bin, and tape it to the front of the container.

It’s easy to have clutter free Brooklyn homes using these organizing tips.

If your home is already organized, but you still don’t have enough room, it may be time to buy a larger home.  I can help.  Call me today at (718) 253-9600 ext.206 or email me at [email protected] for more information.


Charles D’Alessandro

[email protected]
tel 718 253-9600
fax 718 253-9573
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The NYC Citizen Corps Council is proud to announce a new community service Youth Program

Tuesday, January 5th, 2010

The NYC Citizen Corps Council is proud to announce a new community service Youth Program for NYC high school students currently enrolled in grades 9 to 11. Participants will gain valuable experience in emergency preparedness and disaster response, while developing relationships with important citywide organizations and other NYC youth. Once selected, youth leaders will meet every other Tuesday evening from February to June 2010. These leaders will be trained in NYC emergency management and work on improving existing preparedness messaging for high school youth.  Youth leaders will attend hands-on training sessions with community leaders and emergency managers from organizations like the American Red Cross and NYC Office of Emergency Management, among others. They will also offer feedback about current preparedness outreach tactics and work to design a youth-oriented emergency preparedness event.  The application deadline is Friday, January 8. To download the Youth Program application or for additional information, visit www.NYC.gov/citizencorps or email [email protected].

Herman Schaffer,

MSW Director, Community

Outreach New York City Office of Emergency Management

165 Cadman Plaza East Brooklyn, NY  11201

Tel: 718-422-4821 Fax: 718-422-8451


Charles D’Alessandro

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Brooklyn Real Estates First Newsletter For 2010! Stay In Touch!

Sunday, January 3rd, 2010


Here is my first newsletter for the new year, Brooklyn Real  Estate news letter feel free to take a look and if you would like to receive it by e mail each month please sign up it’s free! Just another way  to keep you informed on your Brooklyn Real Estate Search .


Charles D’Alessandro

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Will Mortgage Servicers Become the Country’s Landlords?

Thursday, December 31st, 2009

Will Mortgage Servicers Become the Country’s Landlords?

Foreclosures have skyrocketed over the past two years and even more are predicted in the coming year. Not only are massive foreclosures tragic for the individual families losing their homes, but they are also responsible for major lender losses, resulting in the current mortgage credit crunch. They have caused dramatically dropping house prices, and increased crime and problems for neighborhoods where foreclosures are rampant. Banks, consumer advocate groups, and the government have been searching for ways to stem the tide of these destructive defaults.

Enter the Deeds For Lease (D4L) program from government-controlled mortgage financier Fannie Mae. With this initiative, Fannie Mae would essentially become the landlord for seriously struggling homeowners. It is 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.” Here’s how it works:

A homeowner with a Fannie Mae-backed mortgage facing foreclosure must contact their servicer to see if they qualify. If the homeowner does not qualify for any other home loan

help, like mortgage modification or a short sale, then he/she may be eligible for the program. These homeowners must also be able to afford rent at the current market price. At that point the borrower turns over the home’s deed to the bank, the bank forgives the loan, and the borrower is allowed to rent the same home back from the bank for up to 12 months. During that time the renter will be expected to figure out other living arrangements so that the bank can then sell off the house.

Will other banks follow suit in order to stop losing money on foreclosures? Not likely, according to a recent online Time article. It quoted Cheryl Lang, CEO of Integrated Mortgage Solutions, as saying the main problem lies in the legality of the program. “Once a lender takes possession, if there’s a mold issue or Chinese drywall, whatever the problem is with that house, whether or not the lender is aware of it, that’s a liability.”

Many of the nation’s largest lenders, including Citigroup and JPMorgan Chase, have meager interest in converting homes into rentals. “We’re in the lending business,” says Chase spokesman Tom Kelly. “We’re not really equipped to be landlords.” Lenders are sitting on nearly half a million repossessed houses nationwide, but getting rid of them quickly, even if that means taking a hit on price, seems to be the preferred response. A recent presentation by the head of Chase’s retail-financial-services division showed that the company’s servicing portfolio went from having about 52,000 repossessed homes in September 2008 to only some 30,000 in September 2009. Over that period, the average price at which the firm sold houses from that stock dropped from $175,000 to $150,000.

Now, none of that means rent-backs won’t eventually take off. There are plenty of examples in recent past of housing policies starting at the federal housing agencies and later expanding industry-wide thanks to strong-arming from some combination of the Obama administration and Congress. Loan modifications are the quintessential example. Perhaps one more relevant bit here is the law that was passed earlier this year requiring banks that repossess houses to honor the terms of existing leases (i.e. to not immediately kick out any existing renters). Fannie Mae already had such a policy in place. Over the summer, an Assistant Secretary of the Treasury Department told a Senate panel that the administration was considering rent-backs, but the idea hasn’t gained traction since then.

After all, the big administration push has been loan modifications. Earlier this week, Treasury reported that through October more than 650,000 homeowners have received trial modifications under the government’s “Making Home Affordable” plan. How long lasting that help will be, though, is a different question. As of Sept. 1, only 1,711 borrowers had successfully completed the trial phase and received permanent changes to their loan terms, according to a report by the Congressional Oversight Panel.

If loan modifications aren’t the long-term success the administration is banking on, people will wind up losing their homes to foreclosure anyway, and the number of repossessed properties owned by banks will again rise. According to foreclosure tracker RealtyTrac, the number of foreclosure notices nationwide has been ticking down the past three months, but the number of notices is still running about 19 percent higher than last year. Considering high unemployment and how many people still owe more on their mortgages than their houses are worth, there might be a chance yet for attention to turn to the idea of renting houses back to former owners.