Fannie Mae Becomes A Landlord Will The Private Sector Follow?

Well it looks like tenants occupying homes lost to foreclosure may have just caught a huge break.   That is if the homes are owned by Fannie Mae.

“In a move that provides relief to thousands of renters who face eviction but draws the federal government even deeper into the housing market, the loan giant Fannie Mae said Sunday that it would sign new leases with renters living in foreclosed properties owned by the company.”

Foreclosing On A Paying Tenant…Why?

For the life of me I just don’t understand why a bank would rather have a property sit vacant than rent it out to a willing and able tenant.

Take a break and watch this AlJazeera interview with the Dabner family.  It’s only 2:42.

Finance Related Suicides Are On The Rise

“…It’s that sense of having the rug pulled out from under them….”

For years we have been conditioned to work, borrow, spend, repeat.  Now with unemployment numbers climinbing a crucial part of this cycle has been removed.  I’ve never been an advocate of suicide but many people feel that leaving their family without financial foundation is the equivalent.