A sweet deal, Fannie and Freddie launch a new program to allow certain underwater homeowners to...

|About: Fannie Mae (FNMA)|By:, SA News Editor

A sweet deal, Fannie and Freddie launch a new program to allow certain underwater homeowners to walk away and face a so-called deed-in-lieu rather than foreclosure. "Extraordinarily generous," says University of MD's Phillip Swagel. "We're giving people an incentive to walk away right when the housing market is starting to right itself."