Freddie Mac Tag

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...

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02 Oct Origins of the Fannie Mae/Freddie Mac Crisis

While the collapse of Fannie Mae and Freddie Mac seemed to come from nowhere, the seeds of the collapse of the nation's mortgage system were fairly obvious to those of us who represented bankruptcy debtors during the past ten years. Time and time again, I would meet with honest, sincere and hardworking debtors who found themselves in bankruptcy in an attempt to save a home that was well beyond their means. On numerous occasions I would ask myself how could a person with an unstable job history and very modest income qualify for a mortgage loan that clearly exceeded his means. The answer is fairly simple.
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