Fannie Mae to rent out homes instead foreclosing
• APThousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday. The government-controlled company, through its new "Deed for Lease" program, will allow borrowe
So in effect the federal government gets it's hands on a huge number of homes and then becomes the landlord. Of course with property tax, it could be argued that is the federal government usurping the local government's scam. Commercial reality is next. Everything is owned by government...you just rent...with permission.
In Albequerque and Phoenix
Pacific Palisades
Las Vegas and Reno
Redondo Beach, L.A.
All over in Fresno
In San Fransico Bay
Everybody's gone serfin'
Serfin' U.S.A.