Great news concerning renters of foreclosed properties! I have been complaining and worrying about these tenants for months! I am so relieved that SOMETHING is finally being done. I hope they follow through with all of this and really protect these families caught in the foreclosure mess. This is not fair to the tenants that have been paying their rent and playing by the rules.

I found out today that Fannie Mae has decided to allow renters to remain in their homes even if it is going into foreclosure.  Right now, Freddie Mac hasn't followed suit but they say they're working on it.

Supposedly, the "bailout" money doled out to lenders was supposed to be, in part,  used for this very purpose. Fannie and Freddie said last week they will extend a suspension of foreclosure sales and evictions from single-family homes through the end of January. The companies had suspended foreclosures through the holidays.

Based on further information in the article, it placed the burden on the real estate agent to notify the tenants that they don't have to leave.  What a mess!  How in the world are we supposed to know all of this?  I personally have found it to be a nightmare to show an occupied home when it's gone into foreclosure.  Let's just say that the tenants are grumpy--with good reason!  I guess that we're supposed to find out from the lender if that particular home qualifies for the tenant protection! 

I don't know about all of this. I think the intentions are very good--but the end result may be MORE aggravation, more empty homes, more displaced family's, more stressed out/confused Realtors and more PAPERWORK!  Is it my imagination or is the situation getting much worse instead of better??

Comments welcome.