Will Uncle Sam Soon be the Biggest Landlord?

by Alex Stenback on November 5, 2009

About a year ago, we had a running semi-serious joke around the office that the government should just buy up every foreclosure for the value of the loan and rent the home back to the owners – back of the napkin math suggested it would just be cheaper in the long run than all of the banking bailouts and the rest of the mess downstream.

I am not sure whether to be pleased or amazed, but our joke is now (almost) reality:

WASHINGTON, DC — Fannie Mae (FNM/NYSE) is implementing the Deed for Lease™ Program under which qualifying homeowners facing foreclosure will be able to remain in their homes by signing a lease in connection with the voluntary transfer of the property deed back to the lender.

Fannie Announces Deed-for-Lease Program [Fannie Mae]

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