The Investor Insights » Fannie Mae: America’s Biggest Landlord? http://theinvestorinsights.com Real Estate Investing in the Real World Wed, 08 Sep 2010 21:02:26 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Fannie Mae: America’s Biggest Landlord? http://theinvestorinsights.com/fannie-mae-americas-biggest-landlord/ http://theinvestorinsights.com/fannie-mae-americas-biggest-landlord/#comments Fri, 06 Nov 2009 17:16:30 +0000 lassiter http://theinvestorinsights.com/?p=1452 Fannie Mae is going to let homeowners facing foreclosure rent their homes for up to a year to try to keep a bazillion foreclosures on its books from hitting the market.

The new program is for borrowers who don’t qualify for or haven’t been able to get a loan modification, according to Fannie’s news release. This includes investment properties with a tenant.

Under the Deed for Lease program, the borrower would transfer title to the property to the lender by completing a deed in lieu of foreclosure and then rent back the house at market rates — which hopefully will be cheaper than the mortgage payment on their current (or not-so current) loan. That’s a big bummer for foreclosure and REO investors but a progressive way to keep people in their homes.

Read the full Fannie release here:

http://www.fanniemae.com/newsreleases/2009/4844.jhtml?p=Media&s=News+Releases


]]> http://theinvestorinsights.com/fannie-mae-americas-biggest-landlord/feed/ 3