Saturday, December 12, 2009

New Deed For Lease Program

Did you know if you are facing foreclosure you may have some new alternatives that could keep you in your home? If you are not able to secure a loan modification or get current on your mortgage you may have one more option. The new Deed For Lease program would allow residents facing foreclosure to turn in the deed to their home in exchange for the opportunity to lease their home from Fannie Mae. This rent back program in exchange for the deed is a win win because the homeowner can stay in the home and the bank doesn't need to spend the time and legal fees to foreclose on the home. So if you are looking for ways to stay in your home Deed For Lease may be the best option for you.