November 21st, 2008 2:01 PM by Kathy Delbridge
We received this notice via email yesterday and it looks like there may be some relief for some homeowner's in jeapardy of losing their homes.
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For Immediate Release
November 20, 2008
Statement of FHFA Director James B. Lockhart
“The foreclosure suspension announced today by Fannie Mae and Freddie Mac will help homeowners and servicers utilize the new streamlined loan modification program (SMP) announced by FHFA, Fannie Mae, Freddie Mac and HOPE Now. With this suspension, seriously delinquent borrowers may have an opportunity to avoid foreclosure and work out terms to stay in their homes.”
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United Press International recently posted the following on their website:
WASHINGTON, Nov. 20 (UPI) -- Fannie Mae (NYSE:FNM) and Freddie Mac. (NYSE:FRE)Thursday announced details of a plan to halt foreclosures and evictions from Thanksgiving until a week after New Year's.
Click on the following url to read the entire post:
http://www.upi.com/Top_News/2008/11/20/Fannie_and_Freddie_suspend_foreclosures/UPI-25861227233075/