I assume Fannie Mae will follow that reasoning.

I noticed that you mentioned you have signs for advertising vacancies.

No need to go through the eviction process, just give them their 30 day notice to vacate.Do everything in writing so you have what you need to back it up if for some reason it ends up in court.

Fannie, Freddie and FHA all have commercial programs and that is what you need to be asking your lender about.

However, Fannie Mae has recently made policy changes that encourage short sales over foreclosure.

So I have noticed that this forum does not have a lot of developers in it.

Give them their notice, use their deposit to get the problems fixed right, and start over with a new tenant.Alternatively, ask for an additional deposit to deal with the extra damage.

This is TOO BIG to over look, so take a look:

http://forums.biggerpockets.com/viewtopic.php?p=94830#94830

Notice the intangibles, like is the person hard to get ahold of?

Under the bill, the government would help struggling homeowners get new, cheaper loans and would be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion.