Fannie Mae - The Tenant Can Stay

From WSJ.com - "Fannie Mae to End Tenant Evictions in Foreclosures":

Fannie Mae is finalizing a national policy that will allow tenants to remain in their homes even if their landlord goes into foreclosure -- a landmark decision for tenants.

The policy will be in effect Jan. 9, Fannie Mae said Sunday, and reflects growing pressure on the mortgage company from a legal-aid group that threatened to sue over recent evictions. The company said it will also ensure its current holiday moratorium on new evictions is being followed until the new policy takes effect.

In a previous post (Foreclosures Hurt Tenants Too) we highlighted and discussed the fact that some tenants don't even realize that the owner of their residence is in trouble until the Sheriff knocks on the door. In regards to that aspect of a foreclosure, Fannie Mae looks to be doing their part to help prevent this unfortunate circumstance.

Could you imagine if you were living up to your end of the bargain and you still get thrown out on your ear with no notice? Doubt you'd like it!