Posted on November 06, 2009 by admin

Fannie Mae, the program chartered by Congress to provide stability and affordability in the housing and mortgage market, announced a new program for homeowners facing foreclosure. The Deed for Lease program is designed to allow a qualifying homeowner remain in their home by signing a lease in connection with a voluntary transfer of the property deed back to the lender. This will provide another option for people facing foreclosure. It will eliminate some of the uncertainty and keep families in their homes