If Fannie Mae is the owner of the property you may be able to stay and rent from the lender or continue a remaining lease protected under the Protecting Tenants at Foreclosure Act.

So who is affected by the rental policy? This would apply to qualified renters occupying a Fannie Mae owned home at the time of the foreclosure.  If you are a homeowner and your home is foreclosed but is owned by Fannie Mae you may be able to rent through Fannie Mae’s Deed for Lease program.

If you are renting a single family home, two units to four units, condo, co-op, or detached single family home or manufactured home, this policy applies to you.  You do have to go through an approval process and may have to go through a credit check and criminal back ground check if the house is insured by Federal Housing Authority (FHA).

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