22 Nov Fannie Mae And Freddie Mac Suspend Foreclosures
On Thursday Fannie Mae announced that it will suspend foreclosures scheduled to occur from November 26, 2008 through January 9, 2009.
The temporary suspension of foreclosures will allow Fannie Mae to implementa loanmodification program scheduledto begin onDecember 15, 2008.
Loan servicers and foreclosure attorneys for Fannie Mae were also directed to suspend foreclosure sales on occupied single-family properties as well as stop the completion of evictions from occupied single-family properties.
Freddie Mac also announced they are suspending foreclosures.
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