Freddie Mac to rent foreclosed homes

CONCORD, CA

Foreclosures were up 81-percent last year from the year before. Mortgage lender Freddie Mac is trying to ease the pain of eviction by letting qualified former owners and renters lease the property month-to-month.

But only an estimated 8,600 families will be helped nationwide. Brenda Brennan's is not one of them.

"That's just from the sheriff's office. That's the move out order," said Brennan.

Brennan and her 6-year-old daughter, Brooklyn, have lived in their Concord home for a year-and-a-half.

Brooklyn's dad was paying the rent -- $2,450 a month. But the house went into foreclosure, now Deutsche Bank owns it, and it wants Brennan and her daughter out.

"I've packed my DVD's, and I've packed up other stuff," said Brooklyn.

Brennan believes she's been illegally denied her day in court, but she's unemployed and powerless to fight a move-out order that gave her 10 days to pack up.

"I feel betrayed by, not the homeowners because however they lost the home, I don't know. I felt betrayed by this bank," said Brennan.

Congresswoman Barbara Lee (D) of Oakland voted for the bailout package last year that included $100 billion to prevent foreclosures and she says the stimulus package also addresses foreclosures by creating jobs.

"Personally I've asked for a moratorium on foreclosures and I think we have to have bankruptcy reform. And that's the only way we are ever really going to begin to solve this in a very real way," said Rep. Lee.

Freddie Mac says it hopes the rent-back program will be in full swing by the end of February.

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