/PRNewswire-FirstCall/ -- Fannie Mae (NYSE:FNM) today announced that it will extend its suspension of evictions from Fannie Mae-owned single-family properties through February 28, 2009. 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.
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. On behalf of the company, property managers are contacting renters in Fannie Mae-owned foreclosed properties to notify them of their options.
Renters in Fannie Mae-owned properties can call 1-800-7-FANNIE for further information about their options.
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
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Friday, January 30, 2009
Fannie Mae Extends Eviction Suspension Another Month
Wednesday, January 14, 2009
AtlantaRentCompare.com Allows Consumers to Search the Major Rental Sites in Atlanta at the Same Time on One Screen with a Click
(BUSINESS WIRE)--AtlantaRentCompare.com today announces the first multi-search website that combines all the major apartment and house rental sites in Atlanta on one screen. Atlanta tenants looking online for a new place to live no longer need to hop from site to site. They can simply enter their search criteria once then search the major rental sites like Rent.com, Move.com, Apartments.com, CraigsList.com, Sublet.com, ForRent.com and more at the same time on one screen with a click!
The problem in the Atlanta market today is that consumers are frustrated with trying to find a new place to live. There are simply too many apartment and house rental websites with each having different inventory. Consumers today have no choice but to search multiple rental sites having to set aside hours of time trying to find the different sites available.
The solution is to enter your search criteria once on AtlantaRentCompare.com and easily search the major rental sites at the same time on one screen with a click. Sites currently offered by AtlantaRentCompare.com are:
Apartments.com
ApartmentFinder.com
ApartmentGuide.com
ApartmentRatings.com
ApartmentSmart.com
BackPage.com
BidRent.com
CraigsList.com
EquityApartments.com
ForRent.com
HotPads.com
Move.com
MyNewPlace.com
Oodle.com
Rent.com
Rentals.com
RentSearch.com
RentSpeed.com
Reals.com/rent
Sublet.com
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Tuesday, January 13, 2009
Fannie Mae Announces National REO Rental Policy
/PRNewswire-FirstCall/ -- Fannie Mae (NYSE:FNM) today announced the establishment of a new National Real Estate Owned (REO) Rental Policy that will allow qualified renters in Fannie Mae-owned foreclosed properties to stay in their homes. The company currently has an eviction suspension in place through the end of January which will allow for the new policy to be fully operationalized prior to the suspension concluding.
"Renters in foreclosed properties have often been a casualty of the foreclosure crisis the country is facing," said Michael Williams, chief operating officer of Fannie Mae. "This policy will allow qualified renters to remain in Fannie Mae-owned properties should they choose to do so, mitigate the disruption of personal lives that foreclosures can cause, and help bring a measure of stability to communities impacted by high foreclosure rates."
The new policy applies to renters occupying foreclosed properties at the time Fannie Mae acquires the property. Renters occupying any type of single-family property will be eligible including residents of two- to four-unit properties, condos, co-ops, single-family detached homes and manufactured housing. 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.
While the company markets the properties for sale, Fannie Mae will manage the properties through a real estate broker or a property management company. The company will not require security deposits to be posted in connection with this program.
Renters in the foreclosed properties will be asked to pay market rate rent under the new leases. Rates may be determined by reviewing local comparable rents, conducting a neighborhood survey, or through other relevant indicators. Rates will also be subject to any legal rent control restrictions. The company will review each instance where the market rate may require a tenant to pay additional rent and will work to reach an equitable resolution.
On behalf of the company, property managers are contacting renters in Fannie Mae-owned foreclosed properties to notify them of their options.
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
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