Renting Properties Held by Fannie Mae

Fannie Mae is signing leases for those living in foreclosed properties they are holding.  The rental leases will be binding to whoever buys the property out of the foreclosure.

Unfortunately though for families that want to live in the home, will not be looking to purchase these homes.  Investors may like this idea, but the investor/landlord will have to deal with the tenant that Fannie Mae decided to keep in the property.

In many cases for these situations…

• The family that is looking at the property to purchase, will pass on the property because they cannot immediately live in the house.
• Quality landlords may pass on the property since they have no prior relationship with the tenants and there may be a high risk to taking it over.
• The property sells for less, or doesn’t sell at all, and then continues to depress the property values.