Comments on: Own to Rent: Breaking Down Fannie Mae’s Deed for Lease Program

By: Fannie Mae’s Deed for Lease Program|Ventura County | Esquire Property Management

Sun, 06 Dec 2009 09:52:46 +0000

[...] post explains D4L using illustrations and easy-to-digest nuggets of information. “Own to Rent: Breaking Down Fannie Mae’s Deed for Lease Program,” breaks down how the program works for home owners who are in financial trouble, who are [...]

By: Greg Guillen

Greg Guillen — Thu, 03 Dec 2009 08:56:13 +0000

It’s an interesting idea and I am glad they are trying to figure something out to ease the situation. However, the qualifications are so complicated and burdensome that people would rather not even try to jump through all of the hoops. When people let their homes go to foreclosure, it really isn’t too difficult to save a large amount of money for a security deposit…since they haven’t been paying their mortgage for 6-12 months they typically have tons of cash on hand and can pay a double deposit and qualify with reserves in the bank. I just don’t think people will want to go through all of the red tape.

By: Fannie Mae’s Deed for Lease Program | Mortgage 101 Blog

Fannie Mae’s Deed for Lease Program | Mortgage 101 Blog — Tue, 24 Nov 2009 14:58:53 +0000

[...] Thorman of Software Advice recently detailed the ins and outs of Fannie Mae’s new Deed for Lease program [...]

By: Follow up to Deeds for Lease

Follow up to Deeds for Lease — Mon, 23 Nov 2009 20:20:30 +0000

[...] After reading my Deeds for Lease post last week, Chris Thorman with Software Advise contacted me to let me know he had written an article that outlines the Deed for Lease program from the borrower, tenant, and property management perspective. Click here to read the full article: http://www.softwareadvice.com/articles/property-management/breaking-down-fannie-maes-deed-for-lease-... [...]

By: Giving ‘Deed for Lease’ A Second Look | HSH Financial News Blog

Giving ‘Deed for Lease’ A Second Look | HSH Financial News Blog — Mon, 23 Nov 2009 18:52:34 +0000

[...] article does a good job at breaking down D4L using easy-to-understand language. “Own to Rent: Breaking Down Fannie Mae’s Deed for Lease Program,” covers how the program works, who is eligible, property requirements, as well as examines [...]

By: Chris Thorman

Chris Thorman — Fri, 20 Nov 2009 21:49:11 +0000

@ doris

Interesting point. Thanks for the insider info.

By: Chris Thorman

Chris Thorman — Fri, 20 Nov 2009 21:48:32 +0000

@ Norman

Thanks for that info. I used Zilpy and HSH for all of the metro areas for consistency.

By: Chris Thorman

Chris Thorman — Fri, 20 Nov 2009 21:47:27 +0000

@ John Mark

Fannie Mae hasn’t made it clear what happens after the 12 months are up. They’ve left open the possibility of renting month to month though.

By: John Mark

John Mark — Fri, 20 Nov 2009 19:27:02 +0000

What happens after the 12 month lease is up? The renter who gave his home to Fannie Mae in the deed-in-lieu will not qualify for a new mortgage for at least 3 years because of the DIL.

By: Deborah Schultz

Deborah Schultz — Fri, 20 Nov 2009 19:17:06 +0000

How can investors bepart of this process. Could investors take over property management responsibilities? Could investors buy the property from Fannie Mae and become permanent owners? If homeowners manage to make good on their lease for a whole year, and have a better financial situation, can they turn their lease into a rent to own?