Foreclosure and Eviction Information
For information on foreclosure assistance, these Web sites may be of some help:
You're paying your rent on time, but your landlord isn't, and you are the one holding the eviction notice. This has become an all too familiar theme where banks are booting good tenants onto the streets after seizing property from a delinquent owner, ignoring tenant leases.
Here is some information that may be helpful:
- The property you live in may be the beneficiary of a Fanny Mae or Freddie Mac new renter policy beginning in January 2009. If the property you are renting is a beneficiary of this new program, Fanny Mae or Freddie Mac will be contacting you. Details are unavailable at this time.
- The U.S. Department of Housing and Urban Development outlines Tenant Rights by state on its Web site: www.hud.gov or toll-free line: 1-800-569-4287.
- Hours: Monday - Friday 8 a.m. - 4:30 p.m.
- Call or visit the Wayne County Treasurer's Department office or web site:
- Investigate the landlord's financial situation to see if he's in foreclosure. District court records or the county recorder's office will show if foreclosure actions or judgments have been filed against your landlord.
- The lender's name or its lawyer's name will be on the eviction notice. Contact them and let them know you're leasing the property. Find out what your options are. Don't be bullied into leaving the property sooner than stated by law.
- Call the Better Business Bureau to see if there are any complaints against your landlord. Phone: 248/644-9100
- State of Michigan Renters information
Obama Plan Resources
Go to www.makinghomeaffordable.gov the Web site that lets you determine eligibility, find housing counseling and estimate your lower payments and briefs you on the program before calling your loan servicers.
Owe more than it's worth?
- You could qualify for refinancing into a low-interest loan through Fannie Mae or Freddie Mac if they already own or back your home loan. Many people don't even know if Fannie or Freddie hold their loans, so ask the lender.
- You also can go to www.fanniemae.com or call 800-732-6643, and www.freddiemac.com or call 800-373-3343.
- The refinancing will be available only to people whose outstanding loan amounts are no more than 105% of the current value of the home.
Start by answering these questions:
- Is the property your primary residence?
- Is the amount you owe on your first mortgage equal to or less than $729,750?
- Are you having trouble paying your mortgage?
- Did you get your current mortgage before Jan. 1, 2009?
If you can answer yes to all of those questions, you may be eligible for help under the Making Home Affordable Program