Tuesday, December 16, 2008

Just make the rent check out to Fannie Mae...

Yahoo News is reporting that tenants in properties foreclosed by Fannie Mae may get to stay...for a while.

The new Fannie Mae policy, which would go into affect before January 9, 2009, would allow renters living in foreclosed properties to sign new short term leases with Fannie Mae while the property is up for sale.

Not sure how many folks this will help in Sacramento...or CA as a whole? There is a 60-day notice to tenants provision in state legislation (SB 1137) that passed earlier this year.

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