If You’re Facing Eviction, Help May Be Available
As a renter, you have access to support and assistance if you fall on hard times. If you’re facing eviction, it’s important to understand what is available.
Learn more about what is available in these three most common eviction experiences.
See how your rights apply in these three most common eviction experiences
What you should know when the property you live in is facing foreclosure
You may have options and protections, such as the Tenant-in-Place Rental Program.
The Tenant-in-Place Rental Program
If you’re renting a Fannie Mae financed home at the time of foreclosure, you may be eligible for the Tenant-in-Place Rental program. The program can help you continue to lease the home for a period of time, providing relief from the foreclosure process and time to transition to new housing. In addition, you may also be eligible for financial relocation assistance.
With this protection, there are two lease options:
- Sign a new lease. Eligible renters who want to stay in a rental home that has been foreclosed and is owned by Fannie Mae may be offered a new lease. This would be market rate in a month-to-month or term structure.
- Keep your current lease. Some tenants may be permitted to remain in their home under existing lease terms. Fannie Mae will manage the property through a real estate broker or property management company.
If you’re in a rental that meets the criteria for this program, your property should be posted with a “Knowing Your Options” letter, which includes contact information for a Listing Agent who can help you understand the options relevant to your situation.