Foreclosure Leaseback Keeps Families in Homes

"The Deed For Lease Program, as Fannie Mae has titled the foreclosure leaseback program, is currently good for one year at a time. However, after the year is over, the arrangement is reviewed and may carry over on a month to month basis. The purpose of the program is to allow families to remain in their homes until such time as the real estate market recovers, so they sell their homes; or, if possible repurchase them from the banks at current market rates."