Fannie Mae, under a powerful influence from the government changed its policies to protect renters of homes that enter the foreclosure process. Miami foreclosures have reached a very high level for the past few months with dire consequences for owners that end up loosing their homes and renters that pay rent but ending up to have to search for a new home because Miami lenders have repossessed the foreclosed Miami homes. Fannie Mae will sign 4000 leases that will allow Miami renters to stay in the premises of their rented homes while the house is sold. Eviction will be suspended for sometimes giving a breather for renters.
The only people benefiting from the situation are buyers that can get incredible buying opportunities by buying bank repossessed homes, homes in Miami that are in foreclosure proceedings or even Miami homes in auction. Cash is king; vulture buyers can great a unique in a lifetime opportunity by purchasing Miami Home at a fraction of their assessed values, sometimes up to a 80% discount. Buying foreclosure homes for sale in Miami is easy and offers a significant upside potential.
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