In 2008, bank repossessions of multi-unit homes with two to four apartments jumped 150% to 22,386 through the end of October, up from 8,955. And these statistics don't cover every case of renter eviction; many single-family homes facing foreclosure are also rentals.
Many tenants with good rent payment standing may get evicted unexpectedly.
Fannie will sign new leases for the approximately 4,000 renters in its foreclosed properties, said spokesman Brian Faith. These tenants would otherwise face eviction, even if they had been paying their rent on time, because of the owners' failure to pay the mortgage on the property.
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Wednesday, March 18, 2009
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