Mortgage bemouth Freddie Mac, taken over by the US government in September, announced that it will let some borrower’s rent their homes back, after losing them to foreclosure.    The goal is to shore up occupancy in neighborhoods and prevent homes from falling into deeper disrepair.

The move appears to be a smart one, given the glut of inventory and number of vacant properties already on the market.  It generates cash for the lender, creates property management jobs, keeps families in their homes and helps all homeowner’s and seller’s who live in the area.   

Hopefully, other lenders such as Fannie Mae, will join in this creative effort to keep our neighborhoods safe and occupied, while they protect financial assets.

FYI:  Fannie and Freddie have extended suspension of evictions through the month of February.

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