Government Seeks Solutions to Foreclosure Glut

``The Administration anticipates the respondents will address the objectives by converting REO to rental housing, especially where markets have both a strong demand for rental units and a substantial volume of REO, but encourages alternative solutions. The proposed strategies may also include establishing programs for previous homeowners to rent properties or for current renters to become owners though lease to own arrangements; a mechanism where private owners of REO could also participate in the solution, and options that support affordable housing ''