Wednesday, February 17, 2010

Fannie Mae Taking Steps in the Right Direction

In response to TT's February 2, 2010, letter to Fannie Mae, calling it out for contracting with real estate agents that harass and mislead tenants living in its foreclosed properties, Fannie Mae has taken a big step in the right direction. Fannie has informed TT that it is offering one year leases to eligible tenants and, further, that in response to our letter it is sending “communication to all Fannie Mae agents that not complying with the letter and the spirit of the Protecting Tenants at Foreclosure Act and Fannie Mae’s rental policies will result in termination.” The letter also makes other commitments about which we have requested more information.

Tenants Together will continue to work with Fannie Mae to assure that tenants living Fannie Mae foreclosed properties are treated fairly. We’ll keep you updated on our progress.

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