Fannie Mae Announces Deed for Lease (D4L) Program
November 6, 2009
Yesterday Fannie Mae announced a program that lets homeowners lease back their former homes after they have returned the deed to the lender in a deed-in-lieu of foreclosure transaction. The program is called the “Deed for Lease” program or “D4L.”
It’s unclear how this would be better than mortgage modification or how this will work for the homeowners (who must pay market rents on former homes they may not have been able to afford in the first place), but it’s likely to improve the foreclosure statistics.
To read more about the program, see this link.
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