Foreclosed homeIt is admirable to see what the mortgage giant Freddie Mac is trying to do to soften the blow of foreclosure on owners and tenants after foreclosure.  They have launched a new program called “The REO Rental Initiative”, with the goal of soften the blow of foreclosure on owners-occupants and tenants after the foreclosure.  This program can make life much easier for the occupants of a foreclosed home, especially if there are children involved.

If the home is in safe, habitable condition and meets all local codes for rental properties, it can qualify for the program.  Then they will try to find out if the tenant or former owner qualifies for a normal lease based on what is happening in the area of the home and the finance situation of the owner or tenant, i.e. can they pay the normal lease and are they interested in renting the home on a month to month bases.  To learn more about this program CLICK HERE.  

 

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here.