The house I’m leasing here in beautiful Monument, CO went to foreclosure sale and reverted back to the bank, and then Fannie Mae, on Nov. 9th of last year.
We (my honey and I) love this house. It’s everything we were looking for and then some. It’s a gorgeous house and it backs to pine forest. As idyllic a setting as I could have hoped for.
We moved in just six months ago. We signed a three year lease because we were ready to settle in and stay for awhile. (I don’t know about you but I’m not a big fan of moving and I’ve already moved three times in the last four years. ; )
When we began getting notices regarding the impending foreclosure sale, we didn’t panic. We did our research and we knew we had rights under the Protecting Tenants at Foreclosure Act that President Obama signed into law back in May of ’09.
The PTFA in essence, requires that any purchase at foreclosure sale is subject to the terms of any existing bona-fide lease. The only exception being if the buyer intends to occupy the residence, in which case they must serve the tenants with 90 day notice.
In our case, the house reverted to Fannie Mae and of course, they aren’t going to be occupying the house, so we weren’t the least bit worried.
What we didn’t know then, that we do know now, is that the PTFA is, (are you ready for this?!) self-regulating. Meaning…no one is enforcing it. It’s left to the big organizations like Fannie Mae and Freddie Mac, and the big banks, to regulate themselves. And we all know how well that works.
The PTFA is a federal statute. Never in a million years would I have dreamed that a federally-backed organization like Fannie Mae would, or could, simply disregard the law. It’s the law, after all, right? So when we submitted our lease to Fannie Mae for their “approval” we could not have been more surprised, just a few days later, to be told that they would not be “approving” our lease.
They offered us a new 12 month term lease that would have required us to sign away all our rights and would have offered us no protection at all.
We declined and I began a round of phone calls to anyone and everyone I could think of who might be able to help us – the CO State Atty. General’s office, DORA (Dept. of Regulatory Agencies), HUD, and several other agencies, including a local but nationally known consumer advocate…all to no avail. It wasn’t until phoning Senator Michael Bennet’s office that we got some help.
Our contact there filed a formal inquiry with the Federal Housing & Finance Agency that oversees Fannie Mae. We breathed a sigh of relief to have at least found someone who might be able to help. The FHFA was investigating.
Meanwhile, I’d phoned Fannie Mae again to address their initial denial of approval of our lease, citing the PTFA. They said they’d review it and within days they denied us yet again.
We reiterated that we would be asserting our right to remain in the premises until the end of the term of our lease, as is our right under the PTFA. At that time, a week or so before Christmas, we still weren’t worried. The FHFA was investigating…surely they’d force Fannie Mae to comply with the law.
That was nearly a month ago. Flash forward to this past Monday…when we were served with a Demand for Possession requiring us to vacate the premises, not in 90 days, not in 3 days….but IMMEDIATELY.
WHAT?! To say that we were stunned would be an understatement.
Since we were quite sure we were well within our rights to remain, and that the FHFA would surely step in to enforce the PTFA, we were distressed to see that the situation had escalated to the point of a demand to vacate immediately.
When I shared what was going on with a few close friends all were stunned, and commented on how stunned they were, that I wasn’t completely freaking out.
But here’s the thing…I can freak out and I can sit here and bemoan the fact that this shouldn’t be happening…this is precisely the kind of situation that the PTFA was designed to prevent…or I can accept that, like it or not, this is what’s happening and I can look at what needs to be done, and then get down to it.
I was watching the pilot episode of Alcatraz last night when Doc asked Lucy why she wasn’t freaking out, and she replied, “How I feel about what’s happening doesn’t change the fact that it is happening.” So very, very true.
The truth is…it doesn’t serve us to allow ourselves to devolve into panic. When we’re in a state of panic…not only is it crazy-uncomfortable…but we can’t think straight and so we freeze. Panic keeps us stuck at precisely the time we most need to think clearly and take whatever pro-active steps we can take.
So really, I have two choices…I can sit here with my head in the sand, whining about how unfair life is and how this shouldn’t be happening, until the Sheriff shows up on my doorstep next week to forcibly remove us, or I can face the reality of the situation and I can take a good hard look at what steps I need to be taking.
Have I given up the fight? Not a chance. With the help of an amazing colleague with a background in real estate law, I composed a Notice of Violation of the PTFA and sent it out to the law firm that served the Demand for Possession, to Fannie Mae, the FHFA and the Senator’s office. And I’ve been on the phone again to each of them as well. We have, for the moment, done all we can on that front.
And in the meantime, while we’re waiting to see how this will all unfold over the next week or so…we’re packing. Because, while this “shouldn’t” be happening, and we’re still hoping that ultimately it won’t…it’s sure starting to look as though it might.
Does the thought that a Sheriff may show up on our doorstep to force us out in less than two weeks freak me out? You bet it does.
I can’t quite fathom how we’re going to get the entire house packed, let alone find another home to move into, that quickly but thankfully even in the midst of all this chaos…we’re very blessed.
Unlike so many others in this country who have been forced out of their homes and onto the street in recent years, we have family and friends that have graciously offered to open their homes to us until we can find another.
And so, life goes on, and I have a biz to run, so I simply don’t allow myself to dwell in that place of panic. When those thoughts start spinning, and the panic rises up, I make a conscious choice to re-direct my attention from what I cannot control to what I can.
I remind myself of what I know to be true, and of what I’ve learned and teach to others about coping with unexpected, and unwelcome, change.
How Not to Freak Out
1. Breathe. When we’re stressed we tend to breathe very shallowly which elicits the physiological fight or flight response – shooting your adrenaline sky high and creating that panicked feeling which then causes more shallow breathing and round and round you go. When you stop, close your eyes, and take several slow, deep, breaths an equal, but opposite, physiological relaxation response occurs.
2. Trust and have faith that your life is unfolding perfectly, especially in those moments when it least feels as though it is. It’s often those seemingly “negative” situations we face that hold the promise of the greatest gifts and growth and lead to equally unexpected blessings.
3. Reach out for help and support. Identify the people that might be able to offer assistance and/or support and rather than hiding out, reach out to let them know how they can help.
4. When the panic hits…repeat steps 1-3 and then make a conscious choice to shift your attention from what you cannot control to what you can. What pro-active steps can you take? Identify them and begin taking them. The more present in the moment, and the more engaged you are, with whatever is right in front of you…the better off you’ll be.
5. Take good care of yourself. It’s easy when life feels stressful or chaotic to lose sight of the things you most need to function at your best. Eating regular, healthy meals and getting good rest can be challenging. And the more enjoyable activities that really nourish and energize you often get tossed by the wayside altogether. Make a conscious effort to ensure that you don’t let those things slide completely. Maintaining your routine will provide a sense of stability in the midst of the chaos and taking part in activities that you enjoy will help to keep you sane.
So, I’ll be taking advantage of this opportunity to continue to walk my talk, and to practice rolling with change, and I hope you’ll take heart the next time you’re faced with unexpected, and often unwanted, change, in knowing that no matter how dire the circumstances may seem, you don’t have to freak out.
Time for me to get back to the packing…but don’t let that stop you from jumping into the comments to share your thoughts…I’ll be looking forward to them. 
*UPDATE: We asked our contact at Senator Bennet’s office to inquire with the FHFA if it might be possible to enforce a stay on the eviction proceedings while they finish their investigation and we just got word that they’ve done just that. So while nothing is decided just yet and we may yet have to move before the end of our lease, we can relax a bit knowing that there won’t be a Sheriff on our doorstep looking to force us out next week. ; )
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Lisa – You always seem to handle these situations with such grace! You do such a nice job blending a practical approach with a plan for achieving your goal. Plus you manage to do some self-reflection and sprinkle in some life lessons to share with the rest of us. Inspiring!
Wishing you all the best in getting this resolved!
Deana
Deana…thank you so much for the kind words and support. I don’t always feel as though I’m handling things with grace, but Grace is my middle name…lol…literally. Nice to know that at least some of the time I’m living up to it. ; )
I agree that we need to stay composed and graceful when stuff like this is happening and to focus on things we can control. I’m also a firm believer in doing that AFTER beating up a pillow or having a good rant to acknowledge and release the normal feelings of frustration and outrage.
Hey Sue…yes! I’m not for a moment suggesting that anyone stuff their feelings. It is very important to allow yourself to feel whatever you’re feeling. But what often happens is that in the process, we get caught up in our heads, spinning stories of possible horrific outcomes which only amplifies the fear, anger, frustration, grief, etc. making everything seem much worse than it is and keeping us frozen in fear rather than taking whatever pro-active steps are in our power to take.
Interestingly…aside from a bit of initial frustration, which I directed into my attempts to combat the situation…I’m not feeling frustration or outrage. Probably because when you get right down to it…I value the people and relationships in my life far more than things…and this house…it’s a thing. Will having to move out unexpectedly be a royal pain in my ass? You bet it will. ; ) But it really isn’t the end of the world. I’m not losing the love of my life…he’s right here with me, packing away…and that makes a huge difference too…knowing I’m not dealing with this alone, and knowing that ultimately “home” for me is about being together, rather than the structure we reside in.
Every time I’ve had anything which came back to a matter of the law, I found that the law could be tweaked, turned, and misinterpreted. Like you, I look for every possible and often impossible solutions, when I have done everything humanly possible, I accept reality. It doesn’t make it physically easier, but emotionally it allows me to let go. And through all the odd, scary and extraordinary circumstances, the road has come up to meet me … it seems to me that you are blessed with a similar style, which means that your new home, should it be needed, will appear, like magic.
Sending you huge hugs while it unfolds.
“And through all the odd, scary and extraordinary circumstances, the road has come up to meet me … ” Love that, Jackie! It’s so true. Life has a funny way of working out even when we can’t fathom how it possibly could. Thanks so much for taking the time to comment and to offer such supportive and encouraging words.
Thoughts, prayers and good vibes all going to you, Lisa.
Seems a good time to find a way to let off the steam that is probably lurking in there somewhere. After all, Mohammed Ali was also very graceful! 
In addition to all your very excellent coping strategies, we as humans seem to also instinctively be able to keep a cool head when situations are really serious. Some kind of survival mechanism probably.
Do you have a punching bag? I love mine.
So true, Leanne. We often think there are so many things that if they ever happened to us, we’d never be able to handle. We think we aren’t strong enough or capable enough or that it would just be too overwhelming. And I’ve found over the years, that it’s so true…when faced with challenges we think we can’t handle, what we often discover is depths of strength and courage we didn’t even know we possessed. For the most part…somehow, some way, we manage to deal with whatever life dishes up. We do what we have to and we often surprise ourselves in the process.
I don’t have a punching bag, and don’t, at the moment, feel the need to use one…but I have in the past, and I can see how it could make for a wonderful way to get a workout in while letting off steam. Might have to swing by to use yours before all is said and done.
Hi Lisa,
What a wonderful example of “loving what is” (one of my favorite books). And I love that you plucked wisdom from a network TV program! Thanks for the excellent reminder that we can always choose our reaction to life’s events.
Hey Amy! Thanks so much for stoppin’ by and for taking the time to comment. Loving What Is by Byron Katie is an amazing book and one of my faves too. (For anyone reading this…if you haven’t read it…run, don’t walk to your nearest library or bookstore and grab a copy…you’ll be so glad you did.) And as for plucking wisdom from a network TV program…I’ve found that wonderful bits of wisdom can be found just about anywhere…in a TV show, in song lyrics, in something your neighbor says to you in passing, in something you overhear while standing in line at the bank…you name it. We just have to be paying attention to catch them. ; )
That is not supposed to happen in a civilized country, but it does.
Congratulations on both the way you are handling it and for writing it out so clearly without whining. It is a great example for any one else faced with a similar situation.
Something similar happened to us in the violent farm invasions in Zimbabwe. We did exactly like you, fought it to the bitter end with every means at our disposal, but made arrangements to move when matters got beyond our control and violence was used to get us to comply.
You will find that whatever the outcome, you will emerge stronger from this unpleasant episode. Good luck.
Hey Peter…you’re so right…this kind of thing shouldn’t happen in a civilized country or in any country for that matter. I can’t even begin to imagine what you must have gone through in Zimbabwe. You’re also so right that we do emerge stronger from these sorts of unpleasant challenges, stronger than before.
Thanks so much for your comments.
Lisa – I am in shock at all that is going on and breathing with you…one breath at a time. I greatly admire your self awareness throughout this whole process. Surely it makes a difference for you, but also inspires and informs others who are facing pervasive challenging situations.
I celebrate with you your strength and send well-wishes for the journey ahead…wherever you might call home.
Hi Lisa! Staying present in the moment and taking things one breath at a time (love how you describe that!) is what keeps me sane. ; ) Thank you so much for stopping by and for taking the time to offer your support and well-wishes. I so appreciate it.
Good Share.I hope more people discover your blog because you really know what you’re talking about. Can’t wait to read more from you!
Hey Daniel…thanks so much!
People do freak out about change…but many times change is good! Awesome tips Lisa. Good luck.
Thanks so much for stopping by and for taking the time to comment. And of course…I’ll take all the wishes for good luck I can get. ; )
I look forward to spending more time on your site. It looks as though you’ve compiled some great resources for parents.
Hi Lisa: My husband and I are just beginning negotiations with Fannie Mae on the house we have been renting too. I just learned that our $4K advance rent and security deposit is non-existent and was advised to sue our landlord for the money…ha! We hope to buy this property, but of course we have to rent it from Fannie Mae first. Best wishes to you and yours. Posy
Hi Posy…I’m so sorry to hear that you and your husband are going through something similar. I hope that it works out for you both. If have any questions you think I might be able to answer, or if there’s anything I might be able to do to help…don’t hesitate to reach out.
I wouldn’t want to experience that anytime. I’ll probably wilt under the pressure. I wonder and I admire you for being able to remain cool despite the obvious harassment.
Mikal´s last [type] ..piano sheet music
Thanks, Mikal, for stopping by and taking the time to comment. Your support is much appreciated.
Hang in there! Agh! I hate moving…and totally know about moving too much!
Well, who knows how this will turn out. I have a feeling it will benefit you in the end. Either you’ll get to stay or you’ll find an even better place for less money!
Hey Kelly! Thanks so much. We’ve worked it out so we can stay put, at least for now. ; ) And you’re so right…even those challenges that feel hard have a funny way of working out in whatever way is best. Hope all is well with you!
It is another of that classic case of the simple individual facing a huge institution head on. The problem is that the institution has all the resources to make the law sounds favorable to them.
I admire you for not backing down from the pressure. I hope that you and Fannie Mae will be able to reach an agreement that will be favorable to both of you.
Simone´s last [type] ..jamorama reviews
Hey Simone! Thanks so much for stopping by and taking the time to comment. It’s much appreciated.
Going up against a big institution is definitely challenging, and while it didn’t all unfold in quite the way we’d hoped, we did manage a compromise that is working for the moment.