Fannie Mae: “Deed For Lease” Program Will Let Thousands Rent Out Homes To Avoid Foreclosure
By Alan Zibel
(Associate Press – The Huffington Post) Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.
The government-controlled company, through its new “Deed for Lease” program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions after that.
The program will “eliminate some of the uncertainty of foreclosure, keeps families and tenants in their homes during a transitional period, and helps to stabilize … Continue Reading




