Government To Be Your Land Lord?

It seems that way if you are about to be foreclosed on by Fannie Mae. Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday. The government-controlled company, through its new "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. I'm not sure if this will slow the foreclosures but at least it will keep people in their homes as they wait to refinance them. It just seems like a "kick the can" type of thing but you never know.