I know it can be very shocking to answer the door and find out that you have been served. You are just renting the home, right? Now what? Do you have to move out fast?
Fannie Mae has a new policy where they want the renters to remain in the home, even if the owner of the home is behind in payments and in foreclosure. If this is your situation, Fannie Mae would actually like to enter into a rental agreement with you. This is a new program that would allow you to continue to rent the home with Fannie Mae while the property is up for sale. This is an attempt for Fannie Mae to help tenants as well as to help neighborhoods hit hard by foreclosures. The approximate number of tenants and rental properties to sign up for this program would be approximately 4000. Again, Fannie Mae is attempting to assist those behind in payments, those renters with a lot of questions, and our communities.
Here's another idea also, there are some great opportunities that you may not have even envisioned could be yours as a home owner. Even if you have some things on your credit in the past, there are some great mortgage programs with fixed mortgages that may be a great idea for you.
If you have any questions at all, please call me. I look foward to hearing from you.
Warmly,
Stephanie LeFew
Tampa Realtor Extraordinaire
813-624-3332
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