Upcoming Foreclosures

The new "Protecting Tenants at Foreclosure Act" does that only cover loans from Freddie Mac and Fannie Mae?

Or does it include loans from any source? The property manager of the house we are renting told me today that it only covers loans from Freddie Mac and Fannie Mae. We are 6 months into a 2 year lease and just found out our landlord is heading for foreclosure.

Public Comments

1. You should ask at your local HUD office. I am not a lawyer but I do not think that the property manager is correct. Neither Freddie nor Fannie actually make loans to people. They operate in the secondary market providing liquidity and stability through securitizing etc. of loans made by lenders. You can find your local HUD office on their website.
2. Yes. It is only for loans "held" by FNMA and FHLMC. You can go their websites and check. THey only hold 6% of the millions of loans they service. You need to protect yourself by anticipating "bad news".