Fannie Mae to rent out homes instead foreclosing

57,000 repos and only 1,200 turned to rentals. Doesn't that tell them that the majority of these foreclosures are for convenience and the doesn't live there? And doesn't that tell them that the majority of the loans were illegal in the first place? And why can't they get it through their heads that they can go ut and arrest all these people for fraud!!!!! This crap is what caused this problem in the first palce. People owning 10, 20, 70 homes under a fraudulent contract and no one does a damn thing about it! And then when the market crashes they drop the homes on the market and walk away from them.

These are the real criminals but our jails are full of pot smokers.

I believe if a tenant has paid more than $1200 a month rent for years and that owner is foreclosed, the government should allow the "tenant in possession" to buy the house at the current amount owed with small increases each year so that the debt is ultimately exorcised.