McFarlin & Geurts, LLP is pleased to announce it is now able to represent borrowers to take advantage of New Fannie Mae Rental Program which allows borrowers to rent their own foreclosed home. Credit score will not be a factor.
A Fannie Mae rental program allows homeowners, who live in their property, the opportunity to rent back their house at “fair market value.” The program involves borrowers who don’t qualify for a loan modification to transfer title to their property to Fannie Mae in exchange for a lease. Borrowers would then pay market rent, which in most cases is much lower than the cost of mortgage payments.
Initially, the program will enable borrowers to enter into one year leases, but the term may be extended at the end of the year. Borrowers will need to prove income to “qualify” for the lease, but credit score will not be a factor. Freddie Mac has also launched a similar program, however the Freddie Mac program only allows for a month-to-month lease agreement for now. "McFarlin & Geurts has extensive experience representing borrowers in all aspects of foreclosure and real estate transactions including loan modifications, real estate short sales, deed in lieu of foreclosure, and commercial transaction and workouts. We are uniquely positioned to be able to assist our clients to take advantage of these new programs," attorney Timothy McFarlin commented. Borrowers seeking the best results should consider hiring an experienced loan modification attorney or real estate short sale attorney to give themselves the chance of getting the best results.
About McFarlin & Geurts
McFarlin & Geurts LLP is a full service law firm representing both businesses and consumers in California and throughout the United States. McFarlin & Geurts attorneys possess a keen sense of the law and markets, along with an astute business background that is invaluable in bankruptcy and business litigation. The McFarlin & Geurts team includes five leading attorneys and supporting staff to assure clients that their needs are placed at the forefront of any engagement. Legal representation and counseling is critical in our complex modern world, and McFarlin & Geurts is driven by a desire for excellence and commitment to provide quality, personalized service with integrity.
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