Home Stay: Fannie Mae to the Subprime Rescue

Dear Everyone,

Good news! In the aftermath of the subprime lending woes, Fannie Mae has initiated a program to assist subprime borrowers. Home Stay is designed to refinance high-interest subprime loans. With lower monthly mortgage payments, borrowers are less likely to default and go into foreclosure.

It will be interesting to learn more about the requirements for the Home Stay program and how Fannie Mae is going to market it. Stay tuned.

Elaine