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New GSE Policy AidsForeclosure Renters.(Managing REO)
Washington-Fannie Mae and Freddie Mac are implementing new policies that will allow renters to remain in their homes after the agencies foreclose on the owner.
Fannie is offering renters a new month-to-month lease to stay put or financial assistance to move to new housing if they choose to vacate the property.
"On behalf of the company, property managers are contacting renters in Fannie Mae-owned foreclosed properties to notify them of their options," the government-sponsored enterprise said.
Freddie is going one step further by allowing renters and former owner-occupants to rent and remain in the house.
"First and foremost, Freddie Mac's REO rental option is designed to help cushion the impact of foreclosure on families who own or rent homes," Freddie CEO David Moffett said.
"Keeping ...
- REO REINVENTED.(strategies for converting foreclosed properties into liquid...
- Magazine article from: Mortgage Banking DEZUBE, DONA February 1, 2000 700+ words
...hot site on the Internet for selling foreclosed properties? Not one of those leading e-commerce...agency. Read about what FHA, VA, Freddie Mac and Fannie Mae are doing to unload...Development (HUD), Fannie Mae, Freddie Mac and the Veterans Administration (VA...
- Buyers Closing In on Foreclosed Properties; Although Bargains Aren't Plentiful,...
- Newspaper article from: The Washington Post Judith Evans April 6, 1996 700+ words
...record number of foreclosed properties with lower-than...Mortgage Corp. (Freddie Mac), no longer are...local agents said foreclosed properties still are a good...home foreclosed by Freddie Mac are not required...
- Freddie Mac may add new programs
- Newspaper article from: Chicago Sun-Times November 25, 1988 700+ words
...the affordability issue, Freddie Mac will examine the corporation...the first-time buyer. Freddie Mac also will work with various...With approximately 5,000 foreclosed properties on its books, Freddie Mac also is exploring ways to...
- U.S. supply of foreclosed properties reaches highest level of 2004.(Business...
- Magazine article from: Mortgage Banking July 1, 2004 700+ words
...Florida, the U.S. supply of foreclosed properties reached its highest level of 2004...in May, and the total number of foreclosed properties available in the country was 82...institutions do not benefit from holding foreclosed properties on their books," said Greg Sullivan...
- Investors Finding Profit In Foreclosed Properties
- Newspaper article from: The Washington Post Sam Hankin December 12, 1987 700+ words
...full-time at buying and selling foreclosed properties. Every day, these investors...of local courthouses to bid on foreclosed properties, including some in even the region...days a week buying and selling foreclosed properties. A significant portion of the...
- U.S. Supply of Foreclosed Properties Reaches Its Highest Level of 2004,...
- Press release article from: PR Newswire June 7, 2004 700+ words
...Overall, the total number of foreclosed properties available in the U.S. for the...institutions do not benefit from holding foreclosed properties on their books," said Greg Sullivan...continue to show the largest number of foreclosed properties in the country. However, new...
- Foreclosed Properties Can Offer Homeownership and a Smart Investment.
- Newspaper article from: Investment Weekly News October 24, 2009 700+ words
...property. The article, entitled "Foreclosed properties can offer homeownership and a smart...approved, the various types of foreclosed properties, and advice on closing a deal...the process. When it comes to foreclosed properties, it is vital that you do your...
- More foreclosed properties up for sale: Foreclosed properties make up 10%-15%...
- Newspaper article from: Baltimore Sun (Baltimore, MD) July 15, 2007 700+ words
...frenzied market. Though it's difficult to track how many foreclosed properties are listed for sale, agents who sell homes for lenders...there and get them sold." Banks are increasingly buying foreclosed properties back at auction as other bids fall short of the amount...
Source: HighBeam Research, New GSE Policy AidsForeclosure Renters.(Managing REO)