The housing market just keeps getting stranger and stranger. Just when you thought that you had heard it all, along comes a little news item that peaks your interest. According to the Associated Press, Fannie Mae has become a landlord. That’s right. Fannie is renting homes…to the original homeowners. Apparently, this is a better option than foreclosing. It’s not a bad idea, but why aren’t the banks doing this? It would seem that the off-balance sheet CDOs of the “too-big-to-fail” banks would hold more value if foreclosure were avoided. Anyway, you can read the entire article about Fannie Mae here…
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