Tuesday, December 02, 2008
Temporary Foreclosure Suspension
In an effort to keep at-risk borrowers from losing their homes, Fannie Mae and Freddie Mac announced that they are suspending foreclosures and evictions during the holiday season from November 26 through January 9. The temporary suspension will extend Fannie and Freddie’s recently unveiled mortgage modification program to homeowners who haven't paid their mortgages for three months. Fannie and Freddie estimate that as many as 16,000 borrowers may benefit from the suspension. "With this suspension, seriously delinquent borrowers may have an opportunity to avoid foreclosure and work out terms to stay in their homes," said James Lockhart, Director of the Federal Housing Finance Agency.
Subscribe to:
Post Comments (Atom)
11 comments:
This will be a temporary thing. It only allows people to stay in their home through the holidays. There is a giant wave of foreclosures coming right after the first of the year.
Jose Lopez
Sarasota Florida Foreclosures
New buying foreclosures blog at http://iforeclosures.blogspot.com/
Though it is temporary, it will be a great help to those at risk to think of other possible way to pay or better yet, find other place to stay.
Nice presentation...
Regards,
http://www.saibposervices.com/Real_Estate_Process_outsourcing_services.aspx
Real estate services
hello... hapi blogging... have a nice day! just visiting here....
In many parts of the country the market volume has picked up. In Florida which is one of the hardest hit, volume is now up for 5 months in some areas. The same goes for Southern California, Nevada and many other areas. Bergen County has not been hit as hard as these areas and did not go up as much as they did. Bergen was lucky not to be that speculative of an area. The bottom has been forming in my opinion, although it is taking time, there is a lot of money coming back into the market from the federal government in many forms. It will really start to be felt in the next month or so.
Hopefully it will help some people.
Hi,
We have just added your latest post "Chicago Real Estate Blog: Temporary Foreclosure Suspension" to our Directory of Foreclosure . You can check the inclusion of the post here . We are delighted to invite you to submit all your future posts to the directory and get a huge base of visitors to your website.
Warm Regards
Foreclosu-re.info Team
http://www.foreclosu-re.info
Foreclosure suspension is a good move.
Boise real estate
In many parts of the country the market volume has picked up
___________________
Smarry
For 3 Months Enjoy Free 28 Premium Movie Channels
Merkur 37C Safety Razor Review – Merkur 37C
The 토토 Merkur 37c is an excellent short handled DE septcasino.com safety razor. It is more https://febcasino.com/review/merit-casino/ suitable for both heavy and non-slip hands and is deccasino therefore apr casino a great option for experienced
Post a Comment