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Foreclosures Suspended thru the Holidays

Friday, November 21, 2008 posted by Tommi Crow

It looks like we may all be home for Christmas after all.  

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.

Happy Holidays and thanks for visiting homes for sale website.