On December 15, 2008, Brian Faith, Managing Director at Fannie Mae issued a statement regarding their new policy regarding tenants residing in foreclosed properties. The new policy will allow tenants in Fannie Mae-owned foreclosed properties to stay in their homes if they can make their rental payments. For tenants who would prefer not to enter into a lease, we will continue to offer monetary support for the transition to a new residence as an alternative option. As a result, it is estimated that between 7,000-10,000 families have been able to stay in their homes as a result of the foreclosure and tenant eviction suspension. The aim is to keep as many people as possible in their homes; including tenants.

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.