Renters in foreclosed property held by Fannie Mae can stay.
Fannie May just announced today that qualified renters in foreclosed real estate held by Fannie Mae would have the option of a month-to month lease. During the same time the real estate would be marketed for sale thru a local real estate agent. No deposit would be required and rental amount would be based on market going rate.
I understand Fannie Mae’s reasoning but in the long run this new policy will cause foreclosures to remain on the market even longer. Real Estate Agents will not be able to show the property unless the tenant grants access. Selling real estate in today’s market is hard enough and this is just another hurdle to jump.
For more information on this foreclosure home for sale or other bank owned, foreclosures, REPO’s, and REO property in Panama City Beach , Panama City, Destin, Fort Walton Beach, Bay County, Walton County and the surrounding area call Miller & Associates Realty LLC. 850-249-6655.
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