Fannie Mae allows renters of foreclosed homes the opportunity to stay in their homes
If you are renting a Fannie Mae owned home and the home has been foreclosed on or been deeded-in-lieu of foreclosure, you have options that include staying in the home.
Fannie Mae Rental Policy
The Fannie Mae rental policy applies to tenants who live in any type of single family housing including:
- 2-4 unit properties
- Condos
- co-ops
- Manufactured housing
- Detached homes
The homeowner association must not prevent rentals in the community. A real estate broker or a property management company will manage the property for Fannie Mae. Renters will have the option of a payment if they wish to move to other housing or can sign a month-to-month lease.
For additional details you can call 1-800-7FANNIE (1-800-732-6643).
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