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Fannie Mae Is Now a Huge Landlord

by admin on November 12, 2009

Fannie Mae has a new program called “Deed for Lease” where homeowners in foreclosure can stay in their homes as renters if they deed their houses over to Fannie Mae before the foreclosure auction. The program is only for owner-occupants; borrowers must pay market rents and meet income qualifications. (Rents cannot be more than 31% of their gross income.) The initial lease term is one year, then they become month-to-month rentals. [click to continue…]

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