Foreclosures Suspended thru the Holidays
Freddie Mac and Fannie Mae, the mortgage-finance companies seized by the U.S. government, will suspend foreclosures and evictions over the holidays.
The six-week pause will begin Nov. 26, a day before the U.S. Thanksgiving holiday, and last through Jan. 9, the companies said in separate statements today. The much needed reprieve is designed to give servicer’s more time to implement a streamlined loan modification program for struggling borrowers.
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