Mortgage giant Fannie Mae said Thursday that it would throw a lifeline to some people losing their homes to foreclosure by allowing them to lease those properties back for up to a year at market rental rates.
Mediation would be a good way to expedite a flood of mortgage foreclosures, a task force said Wednesday, but some panel members disagreed on the details in oral arguments before the state Supreme Court.
Fannie Mae — recently announced a new tool intended to keep people facing foreclosure in their homes. Fannie Mae calls this program Deed-for-Lease, and it is sufficiently proud of the program that it claims a trademark on the name.
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