Landlords Facing Foreclosure

It's becoming an all too familiar scenario for thousands of renters nationwide. They (the renters) are paying their bills (and rent), but the landlord isn't. The renters become the unintended victims of foreclosures. Banks are booting good tenants out into the streets with little or no notice after seizing a property from a delinquent owner, ignoring tenant leases.
Fannie Mae has pledged a new plan to change this problem. The plan will allow renters living in foreclosed properties to sign new leases with Fannie while the property is up for sale, or give the tenants money to relocate. Fannie has yet to establish the length of the leases, and the amount of move-out assistance will vary by state and property.

Freddie Mac says it will unveil a similar program in a few weeks, but details of the plans are still a bit sketchy.

Are you renter facing eviction due to a foreclosure? Tell us (and everyone else reading) about it. We'd love to be able to offer some assistance or advice, or put you in touch with someone who can help. Just use the comment link below and tell us about your plight. Your email address will not be published here in order to fully protect your privacy.