MiamiRealEstateKing

Is Foreclosure Inevitable for you? Now you can stay in your own home…legally!

In real estate on January 29, 2011 at 2:46 pm

Most lenders who eventually foreclose on a borrower and take a home back do not want the responsibility nor the potential liabilities of ownership. However, most lenders are not Fannie Mae (FNMA).

Fannie Mae has created a program called the “Deed-For-Lease Program” or D4L. Qualified occupants (homeowner-borrowers or tenants), “…must have the ability to pay market rent (not to exceed 31 percent of his or her monthly gross income)”, among other things. However, the ability to stay in one’s home can be a wonderful option for some.

To find out more, review the Deed-For-Lease Frequently Asked Questions (D4L FAQs) page HERE.

Though about 70% of folk who lose their home to foreclosure find themselves in this situation because they fail to seek help or equally tragic, they seek help from the wrong people (non-professionals who may also be incompetent or worse), foreclosure may be inevitable for some.

Regardless, there are solutions available and speaking with the right professional can make a world of difference in whether you lose your home to foreclosure, save if from foreclosure and the long-term damaging effects of it or at least, if you’re going to have to move and rent elsewhere, now you may be able to keep your familiar roof over your head as a tenant.

Staying in a property may be most important f0r those with special needs, who have young children, etc. Get the facts. Contact me today and I will send you a link with more information about this program that can help you stay in your home and minimize the traumatic consequences of foreclosure.

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