I got an email today from a reader, Chris Thorman, about Fannie Mae's new "Deed for Lease" program, which offers an option for owners in foreclosure proceedings to give up their deed for the house in exchange for the right to remain as a renter at market rates. I don't know much about the program, but Chris has written a good overview of it here. If this is something that may apply to you, you may want to check it out.
David Knudsen
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Catskills Buyer Agency
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Email: davidk@beechwoods.net
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November 19, 2009
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Sorry, but this approach again avoids the major issue of people not having the money whether it's $2000/month or $1000/month. After twelve months you are going to be allowed to stay on indefinitely. Watch!!!!
In the old country(USA pre 2005) it was called subsidized housing.
Posted by: rt | November 22, 2009 at 03:42 PM