The Federal Government is calling on the major banks to have a good look at their hardship provisions as more Australians default on their mortgages.
One option under serious consideration in Australia, the United Kingdom and the United States is for banks to become landlords.
With the global financial crisis shifting all the goal posts, the pressure is on financial institutions to stop foreclosing and start looking at potential home defaulters as tenants.
» Pressure on banks to become landlords – The ABC, 6th November 2008.