Fannie Mae and Freddie Mac are placing a hold on all foreclosure through the holidays. The freeze will begin on the 26^th of November, one day before the Thanksgiving Holiday and will continue through January 9^th. This break will allow servicers more time to implement a program for homeowners who need a loan modification, and in the mean time allow homeowners to remain in their homes and have a chance to be a part of the program. It sounds like a move they shouold have made back in September, but I suppose its better late than not at all.

This entry was posted on Thursday, November 20th, 2008 at 7:07 pm and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.