The Real Estate Mango

Good News for Renters

There has been a real problem, lately, with renting that beautiful condo or house and then have the property go into foreclosure, and there you are, no place to live.

Not any more.  Fannie Mae (the Federal National Mortgage Association) is going to renew leases or create new leases with tenants already in the foreclosed properties so they are not thrown out when the property goes into foreclosure.

I read in the New York Times today, that this will be a major program to help ease all the unsettling problems of the real estate industry.

This is good news, today and I appreciate it’s ramifications.  What do you think.  Will it help you to decide to rent a condo, this coming year?  Let me hear from you and tell me what other questions you have in this volatile market.

This entry was posted on Monday, December 15th, 2008 at 6:48 am and is filed under Market Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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