Fannie Mae Announces National REO Rental Policy

Real Estate Broker/Owner with Paul Howard, Broker, Paul Howard Realty 856-488-8444 8639604
Fannie Mae announced yesterday: "... the establishment of a new National Real Estate Owned (REO) Rental Policy that will allow qualified renters in Fannie Mae-owned foreclosed properties to stay in their homes. The company currently has an eviction suspension in place through the end of January which will allow for the new policy to be fully operationalized prior to the suspension concluding."

This may be good news for the housing market. The glut of vacant homes in some areas has exacerbated the ongoing problems facing all segments of the market. Unfortunately, this only applies to homes that are occupied by renters at the time of a foreclosure - so only investor owned homes are affected. I'd like to see it expanded to put renters in most foreclosed/vacant homes whether currently renter occupied or not. In some cases perhaps the very people being foreclosed could be kept in the home.

It is unclear how this policy will affect the marketing and sale of these homes. If they will be kept off the sale market it will reduce the inventory of homes for sale and help firm up prices.


Follow me on Twitter logo

For those who have a real desire to own a home , have good credit and want help with the search, the process and especially negotiating the purchase, I'm available. My speciality is discovering financing options and negotiating purchase price and terms as an advocate for home buyers. Each home of interest requires analysis.

My primary service area is Camden, Burlington, and Gloucester counties in Southern New Jersey.

Paul Howard, Broker Realty

Cherry Hill Nj 08002


MEMBER: NAEBA (National Association of Exclusive Buyer Agents )

I'm worth every penny I get in compensation and buyers that have used me know it. They are entitled to have high expectations. I am not aware of even one of my prior buyer/clients that is in danger of losing their home. The vast majority purchased at a price UNDER its appraised value - even in the boom market times.

Either I have smarter than average buyers or I am a smarter than average broker - or both. Either way, I help home buyers get more for less.
Posted by


Paul Howard, Broker Realty

80 Barclay Center Suite 4A

Cherry Hill NJ 08034



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Exclusive Buyer Agents
Exclusive Buyer's Agents (EBAs)
New Jersey Real Estate Experts
cherry hill
rental homes
buyer agents
national association of exclusive buyer agents

Spam prevention
Show All Comments
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Paul:  As someone who has helped too many displaced renters, this sounds like a very reasonable solution. 

Jan 24, 2009 02:48 AM #1
Paul Howard
Paul Howard, Broker, Paul Howard Realty 856-488-8444 - Cherry Hill, NJ
Paul Howard Realty, 856-488-8444

Chris,  I guess too reasonable to be considered though on an expanded basis.

Jan 24, 2009 03:16 AM #2
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Paul Howard

Paul Howard Realty, 856-488-8444
Ask me a question