When You Thought Housing Couldn't Get Worse...

The Rabbi

Diamond Member
Sep 16, 2009
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Our government is run by idiots. That is the only conclusion I can come to.
And yes this is from the HuffPoo but I read the same thing this AM in the WSJ:
Fannie Mae Rental Program DETAILS: Program Will Let Thousands Rent Out Homes To Avoid Foreclosure

WASHINGTON � Can't pay the mortgage? You still might be able to stay in your home. Government-controlled mortgage company Fannie Mae is going to give borrowers on the verge of foreclosure the option of renting their homes for a year.

The change announced Thursday could give a temporary break to thousands of homeowners, but critics question whether it will only add to the mushrooming losses at the company, which has received billions in taxpayer money.

The new "Deed for Lease" program will allow homeowners to transfer title to Fannie Mae and sign a one-year lease, with potential month-to-month extensions after that. It also helps save money because the lender does not need to complete the often lengthy and time-consuming foreclosure process.
More at the source.

They can't lend money without losing it. They can't run businesses without screwing that up. So now the US government is going to become a landlord for scattered site housing?
Helloooooooo?????
 
Un Fucking Believable
You cant pay your mortgage so rent from us ... who ... the taxpayer. If you cant pay the mortgage how are you going to afford the rent?
 
Un Fucking Believable
You cant pay your mortgage so rent from us ... who ... the taxpayer. If you cant pay the mortgage how are you going to afford the rent?

Beyond that. What happens when the toilet breaks? Or the hot water heater goes out. Or the people don't pay their rent?
They have little to no ability to run rental property. I do that in real life and it can be a very time consuming job.
 
you may as well kiss those billions goodbye the dimocrats have it in the scruffy little hands. it's gone,, kaput,, goodbye.
 

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