Okay now this is innovative... Fannie Mae is offering folks who are in trouble with their loans and don't qualify to modify them... a lease in return for a deed in lieu of foreclosure... they get to stay in their homes... lease it back at fair market rent value... this way people get to stay in their home... most likely with lower monthly payments, no property tax and just renter's insurance... the neighborhoods stay intact, children stay in their beds and schools... seems reasonable to me... almost like someone with common sense was in charge for a moment... I am sure there are kinks to work out like who manages the property and all that.... and when the government becomes property managers then we will see what they are made out of hey?
Go to the Fannie Mae site for more info.... www.efanniemae.com
Noah Thinks this is one Sweet Idea!
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