Rent Your Own Home and Avoid Foreclosure

Fannie Mae Deed for Lease Real Estate Program for Homeowners

Homeowners facing financial trouble can stay in their home and rent them from Fannie Mae.  Borrowers who don’t qualify for loan modifications can sign up for it.

Learn more about Fannie Mae’s Deed for Lease program

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1. Having trouble making home loan payments, Tap into Uncle Sam’s Home Affordable Foreclosure Alternative Program (HAFA) The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures. HAFA alternatives are available to all HAMP-eligible borrowers who: 1) do not qualify for a Trial Period Plan; 2) do not successfully complete a Trial [...]......
2. Deed in lieu of Foreclosure under Home Affordable Foreclosure Alternative Program (HAFA) The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures. Below is an example of a deed in lieu of foreclosure agreement, which helps homeowner avoid a foreclosure. The letter below has all [...]......
3. Home Affordable Modification Program Secrets to reduce second home loan The Second Lien Modification Program is a complementary program to the Home Affordable Modification Program designed for first lien mortgages. This Program is expected to reach approximately 1 – 1.5 million responsible homeowners who are struggling to afford their mortgage payments. The Second Lien Modification Program (2MP) coordinates with Home Affordable Modification Progam’s (HAMP) first mortgage modification [...]......
4. Working out a Sweet 2% Home Loan Deal with Your Lender Extreme loan modifications are possible in some situations. Money magazine wrote an article about a homeowner Rodney Wynn who managed to negotiate a 4.7% loan with his lender. Rodney Wynn was drowning under his $1,800-per-month, 13.4% interest rate mortgage. He did find relief: with a 4.7% modified loan with a $970 monthly payment. Wynn, a program [...]......
5. Homeowners in Financial Trouble stay in Home as Tenants – Find Out How? Fannie Mae’s Deed for Lease Program enables homeowners who are in financial trouble and face foreclosure to turn into tenants by leasing the property from Fannie Mae and turning the property deed over to the lender. According to Fannie Mae anybody who is not eligible for loan modification can take advantage of [...]......

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This entry was posted on Friday, November 13th, 2009 at 12:34 pm and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.