Fannie Mae: Those in Foreclosure can Lease Back Their Homes

Fannie  Mae announced last week that homeowners facing foreclosure can now lease back their homes at market value for up to a year, according to the Los Angeles Times.  The move was done in part to help the company manage the next wave of foreclosures.

Not surprisingly, Fannie Mae is reeling because of the amount of foreclosures it has on in its inventory, and, as a result have had to once again turn to the U.S. Treasury for additional funds.  Last Thursday, they requested another $15 Billion from the Feds, the 4th request they've made since being taken over completely by the government, the Times reported.

 

Source: Los Angeles Times