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.
Freddie Mac, launched a similar effort in March. That policy, however, requires the foreclosure to be complete and only allows month-to-month leases
Click on the following for the rest of the story: Fannie Mae to rent out homes instead foreclosing - Yahoo! News
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