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Freddie/Fannie Halt Foreclosures Until February
January 8th, 2009 categories: Foreclosures / Short Sales, Loans / Financing
Freddie Mac and Fannie Mae both announced today that they’re extending their moratorium on foreclosure sales and evictions through the end of January, in an effort to help both Fannie/Freddie and those in default or renting a foreclosed property to explore other alternatives.
Both organizations announced in early November that they would halt foreclosures and evictions during the holidays, with the moratorium to run from Nov. 26, 2008 to Jan. 9, 2009. With the extension through Jan. 31, that will mean at least a two-month reprieve for those with Fannie/Freddie loans who were originally facing foreclosure or eviction back in November.
To read the entire Freddie Mac press release, click here.
For the Fannie Mae release, click here.
Keep in mind that this extensions only affects those with “conforming” loans, which are now owned by Fannie Mae or Freddie Mac.
