Yes it's true!! And we wonder why it took so long to raise the debt ceiling. This is perhaps the most ridiculous idea I have yet! It seems that no one ever considers the downside when they come up with these band aid fixes. Stupid!, Stupid!, Stupid!
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Bill Introduced to Support Foreclosure Rentals
The Neighborhood Preservation Act (H.R. 2636) would authorize FDIC-member banks, Fannie Mae, and Freddie Mac to enter into five-year lease agreements to rent REO properties back to the foreclosed homeowner or another individual.
News surfaced last month that the administration was considering such a policy for Fannie and Freddie. Now, Rep. Miller wants to enact it with legislation.
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