The following is an excerpt from an article written by Kelly Evans on the Wall Street Journal Website. The entire article can be found at: http://online.wsj.com/article/SB122929716434005201.html.
"Fannie Mae is finalizing a national policy that will allow tenants to remain in their homes even if their landlord goes into foreclosure -- a landmark decision for tenants.
The policy will be in effect Jan. 9, Fannie Mae said Sunday, and reflects growing pressure on the mortgage company from a legal-aid group that threatened to sue over recent evictions. The company said it will also ensure its current holiday moratorium on new evictions is being followed until the new policy takes effect...
Freddie Mac hasn't announced a similar policy reversal, though a spokesperson said they are "currently evaluating additional actions."
The decision by the government-backed mortgage giants represents just a slice of the market and excludes many properties purchased with riskier loans that are now falling into foreclosure. Fannie Mae and Freddie Mac, however, are uniquely structured to be able to address the issue, which effectively now has them acting as a type of landlord or property-management company to administer month-to-month leases to renters of their foreclosed properties."
To read this entire article, go to: http://online.wsj.com/article/SB122929716434005201.html.
Showing posts with label process. Show all posts
Showing posts with label process. Show all posts
Tuesday, December 23, 2008
Monday, December 1, 2008
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Register for my newsletter and get valuable information about your eviction. I will only send you emails relevant to evictions, the eviction process and how to stop evictions. I will not share your information with anyone or any entity. That's a promise!
You will be directed to PayPal to complete your download. Feel free to make a donation, but it's not mandatory. Just change the price to change the donation amount.
Once your registration is complete, you will get immediate access to your FREE eBook download, "The Eviction Process." Enjoy your FREE eBook!
www.tenantevictionhelp.com.
www.tenantevictionhelp.com/FreeeBook.aspx
for more information.
Join the social network for tenants in crisis due to landlord foreclosure. Participate in blogs, forums and discussions for people in the same position you are in. Find links to informative articles that provide resources for foreclosure tenants and their needs. This network is 100% FREE... and there is NO spamming involved.
Click here to join: www.stopit.ning.com.
www.tenantevictionhelp.com
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