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
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?????
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
More at the source.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.
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?????