Foreclosure in Des Moines>Question Details

Eric, Renter in Des Moines, WA

my landlord told to ignore notices to evict me from fanie mae, now he has gone to court and the place is foreclosed,& can I still rent from

Asked by Eric, Des Moines, WA Sat Oct 29, 2011


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There are different rule sin different states regarding foreclosures and evictions. You should check with someone who is expereinced with eviction law in your state. Most laywers offer no cost consultations or call yoru attorney generals office on Monday. good luck working things out
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0 votes Thank Flag Link Sat Oct 29, 2011
Under the Protecting Tenants After Foreclosure Act of 2009, Fannie Mae is required to honor any existing lease you have with your landlord. However, it may terminate the lease at any time if it has sold the property to a buyer. But until then, the extent of your ability to stay in this house and continue to pay rent as a tenant - to Fannie Mae in this case, depends on whether you have a month to month or term lease.

If you are a month-to-month tenant, Fannie Mae may terminate your tenancy without reasons but is required to serve you with a 90-day notice of termination.

But the law only applies if you're bona fide tenant which means the rent you're paying must not be substantially lower than the fair market rent. The statute is silent as to what it really means for the rent to be substantially lower than fair market rent. So there's always room for argument and negotiation of course.
0 votes Thank Flag Link Sat Oct 29, 2011
The reason your landlord told you to avoid the evictions notices from the bank is because the bank cannot evict a tenant once they take possession of a property. As long as you continue to pay rent to the bank they have to honor your rental agreement. At times they may offer you cash for keys because it's easier for them to sell a vacant property. If you don't leave, and assuming there isn't rent control laws, the new owner can give you notice to vacate the property once they take possession.
0 votes Thank Flag Link Sat Oct 29, 2011
Possibly, taken the advice of people who either have a vested interest in the property, or,
from outsiders who do not have an intimate knowledge of the circumstances,
would be unwise.

For something as important as your home; I would suggest contacting Fannie Mae.
Obama passed the Tenant Protection Act which is very protective of you.

Good luck and may God bless
0 votes Thank Flag Link Sat Oct 29, 2011
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