The new regime in the Government did say they would pull out all the stops to try and stabilize a crippled housing market and economy. And to date there have been numerous ideas, programs and cash and tax credits implemented. And now there is a new one except this time it is Fannie Mae and Freddie Mac looking to stabilize foreclosure “hot-spots”

Fannie Mae recently announced their “deed for lease” program. Freddie Mac has already implemented this same type of program.

Countless numbers of borrowers on the verge of foreclosure will have the option of renting their homes from Fannie or Freddie. The program will allow homeowners to transfer ownership to Fannie or Freddie and rent the home back for a year by signing a lease.

While the end result for the borrower is the loss of the home for some it gives them the option to remain in the home while they try and turn around their finances. This program would be available to those who do not qualify for a loan modification.