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Slowly, the steps to making some progress are being recognized and put into implementation!  The following article at least provides for the opportunity of a home owner or tenant who is in a property to be foreclosed to be able to RENT the property (month-to-month.)  While not a permanent fix – it does help to provide a little extra time to make other arrangements…if you need help in finding more details – call Tammy at 937-838-0997.
Daily Real Estate News  | March 6, 2009  |

Freddie Mac Launches Rental Initiative
Freddie Mac is launching a rental initiative, which will give former owners and tenants of foreclosed property the opportunity to lease their recently foreclosed properties month to month.

The REO rental initiative will be managed by HomeSteps, Freddie Mac’s national real estate unit, and implemented through several national property management firms. Freddie Mac has about 8,500 properties in various stages of foreclosure.

Freddie Mac also will continue to suspend evictions through March 31 to ensure that former owners and occupants have an opportunity to explore new options available to them.

To qualify for a lease, the tenant or former owner must occupy the property and show they have adequate income to pay the monthly rental amount established by the property management company based on market rents for the area. Occupants must agree to allow HomeSteps to show the home to potential buyers during the lease period.