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Fannie Mae offers borrowers option to foreclosure (AP)



FILE- In this July 11, 2008 file photo, a sign in front of the Fannie Mae headquarters in Washington is seen. Seized by federal regulators 14 months ago, the problems at Fannie Mae and sibling company Freddie Mac have proven far worse than most experts had foreseen. Fannie Mae's request Thursday, Nov. 5, 2009, will bring the tab for rescuing both companies to about $111 billion. The government has promised up to $400 billion in assistance. (AP Photo/Manuel Balce Ceneta, File)AP - 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.

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This entry was posted on Sunday, November 8th, 2009 at 10:35 am and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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