Freddie Mac announced on Friday, January 30, 2009 that they will begin to offer leases to renters that are facing eviction as a result of foreclosure and will also put a halt on evictions through February of 2009. The leases will be on a month to month basis allowing these tenants that have paid their rent to stay in their homes, even after a foreclosure has taken these homes from their landlords.

Fannie Mae offered a program earlier in January that is similar to the Freddie Mac plan, and has estimated that this program will allow nearly 8,000 renters to sign up for a month to month lease with Fannie Mae to remain in their homes. Freddie Mac has estimated nearly 4,500 families will be affected through their plan.

We need to try and get more of these private lenders to follow suit, I don't think that it is right that these families that have held up their end of their bargain, by paying their rent on time, should be thrown out on the streets in the middle of a recession! However, if your landlord has foreclosed on the home that you are renting, now is the time to buy! Perhaps looking into the purchase of the home from your landlord, could be an option. The last thing that Florida's real estate market needs is more empty houses!