FANNIE, FREDDIE EXTEND EVICTION SUSPENSION THROUGH FEB. 28

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Car is becoming a landlord, hopefully not a slumlord.

CAR just passed this to me:

FANNIE, FREDDIE EXTEND EVICTION SUSPENSION THROUGH FEB. 28
Fannie Mae announced Friday it will extend its suspension of evictions from Fannie Mae-owned single-family properties through Feb. 28. The suspension applies to all single-family properties, including owner-occupied properties that have been foreclosed upon as well as foreclosed properties occupied by renters. Freddie Mac also issued a similar announcement suspending evictions through Feb. 28.

The company this month began implementing its National Real Estate Owned (REO) Rental Policy that allows qualified renters in Fannie Mae-owned foreclosed properties to stay in their homes. The new policy applies to renters occupying any type of single-family foreclosed properties at the time Fannie Mae acquires the property. Eligible renters will be offered a new month-to-month lease with Fannie Mae or financial assistance for their transition to new housing should they choose to vacate the property. The properties must meet state laws and local code requirements for a rental property. Property managers are contacting renters in Fannie Mae-owned foreclosed properties on behalf of Fannie Mae to notify them of their options. Renters in Fannie Mae-owned properties can call (800) 7-FANNIE for further information about their options.

Sunil Sethi
Fremont Real Estate Realtor

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