Fannie Mae is finalizing a national policy that will allow tenants to remain in their homes even if their landlord goes into foreclosure — a landmark decision for tenants.
The policy will be in effect Jan. 9, Fannie Mae said Sunday, and reflects growing pressure on the mortgage company from a legal-aid group that threatened to sue over recent evictions. The company said it will also ensure its current holiday moratorium on new evictions is being followed until the new policy takes effect.
The legal aid group referred to in the excerpt is New Haven Legal Assistance.
The announcement appears to be a victory for common sense and common decency. One hopes others will follow.
Editor’s Note: New Haven Legal Assistance continues a proud tradition begun in the 1970’s when, under the leadership of Fred Danforth, NHLA’s law reform section led by David Lesser and Bill Clendenen, used the law to advocate for large numbers of people with no access to the political system. On the general subject of access, see OpenSecrets.org and Maplight.org. Lesser, with Clendenen on the brief, argued and won LYNCH v. HOUSEHOLD FINANCE CORP., 405 U.S. 538 (1972), which was just one of Lesser and Clendenen’s successes before the Supreme Court.