Fannie Mae offers delinquent borrowers the option to stay in their home and pay rent

The program will allow homeowners to transfer title to Fannie Mae and sign a one-year lease, with possible month-to-month extensions after the lease expires.

Fannie Mae spins this as a way to avoid foreclosure and protect the borrowers credit...........I really don't see it helping the credit issue, however to the borrower who lost a job or who has a mortgage that has adjusted beyond his or her means it's an option. If the borrower can't pay the mortgage on a home he owns will he pay the rent on the home he does not?

I see this as a way for the lender to avoid the foreclosure process, which is good news for the REO agents who would get the listing faster. No more short sale seller problems at close Yeah!.......