AP Says Fannie Mae is Renting
November 5, 2009 by admin
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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