Fannie Mae has announced a new policy by which they may give homeowners facing foreclosure the option to rent their homes instead.    The new program called "Deed for Lease" will allow borrowers to transfer ownership to Fannie Mae and sign a 1 year lease with the option to extend on a monthly basis thereafter.  The program is intended to help borrowers who don't qualify for a loan modification remain in their home.

For more information on the program, visit  Fannie Mae's official Deed for Lease site