Fannie Mae working hard to be a good neighbor

MIAMI - FEBRUARY 11:  A foreclosure/price redu...Image by Getty Images via @daylife

Fannie Mae, one of the leading holders of US mortgages has recently released a notice to servicers of their foreclosure properties that are intended to improve the handling of these properties and the neighborhoods they are in. The new notice is here, the rates & timelines for reimbursement have been updated along with the requirement of photographic evidence of the upkeep of the property.

One of the hardest issues for neighborhoods dealing with foreclosures is sometimes the lack of upkeep and maintenance of these foreclosure properties. Hopefully private and public lenders will also follow suit to keep neighborhood blight to a minimum now that Fannie Mae is really leading the way to make sure the properties don't fall into disrepair or lack of upkeep.

Many cities & towns have taken issue with properties that have fallen to foreclosure and often times the lack of even the basic landscaping or upkeep which drags down neighborhood values as well as become a hazard in many ways.
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