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.
controlled companyFannie Mae: "Deed For Lease" Program Will Let Thousands RentDigg - Business & Finance Thu, 11/05/2009 - 22:40
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