U.S. Real Estate : Fannie Mae widening its loss

The establishment of U.S. mortgage refinancing Fannie Mae Announces New net loss of 18, 9 billion in the third quarter against $ 15.2 billion in the second quarter of 2009. Therefore, Fannie Mae has asked the Treasury public assistance by 15 billion dollars. The losses of the company reached 56.8 billion dollars over the first nine months of the year.

According to Wall Street Journal, Fannie Mae has launched a program offering owners who can not repay their loans to become tenants in order to avoid being deported. Thus, borrowers could transfer their property to the lender as part of a title cons lease. Subsequently, they could rent housing at market prices.