Industry NewsMortgage

Give up home, Fannie will lease it back

'Deed for Lease' program avoids foreclosure
Published on Nov 6, 2009

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by CareyBot

Fannie Mae is offering to let troubled borrowers who don't qualify for a loan modification stay in their homes as renters if they volunteer to relinquish ownership through a deed in lieu of foreclosure.

Fannie Mae's Deed for Lease program is also available to qualified borrowers who had previously been granted a loan modification but were unable to keep up their payments.

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