Deed for Lease Program

Cash for clunkers, cash for appliances, cash for carts and now deed for lease.

Fannie Mae to Allow Borrowers to Lease Homes.

Some homeowners who face foreclosure may be able to stay as tenants in their houses for the time being, even if they forfeit ownership, under a program announced on Thursday by Fannie Mae.

Under the program, called Deed for Lease, those owners who qualify would be able to remain in their residences by signing a lease voluntarily transferring the property deed back to the lender. Fannie Mae said the program could help thousands of defaulting homeowners stay in their houses for at least another 12 months.