Fanny Mae temporarily halts Foreclosures.

Vacant Properties will not be Effected.

Vacant Properties will not be Effected.

This is interesting:

“In connection with the streamlined modification program announced jointly by

the Federal Housing Finance Agency (FHFA), Freddie Mac, and Fannie Mae on November 11, 2008, Fannie Mae is instituting a halt to all foreclosure sales on occupied single-family properties as well as to the completion of evictions from occupied singlefamily properties scheduled to occur from November 26, 2008 through January 9, 2009.

The temporary halt on foreclosures is designed to allow affected borrowers facing foreclosure to retain their homes while Fannie Mae works with FHFA to implement the streamlined modification program scheduled to launch December 15, 2008. The foreclosure halt will apply to all portfolio mortgages and all MBS pool mortgages owned or guaranteed by Fannie Mae and to foreclosures of homes that are already in process with foreclosure sale dates scheduled during the halt period. Servicers and foreclosure attorneys (or trustees) must institute the halt on foreclosures for eligible homeowners no later than November 26, 2008.”

More info here and all over the internets…

Thanks to Pam Painter at Sumner Home Mortgage for emailing me that. If any of you would like a copy of the full memo email me at M@TheSkydivingAgent.com. 

 

 

 

 

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Posted in National Real Estate News |

This entry was posted on Thursday, November 20th, 2008 at 5:06 pm and is filed under National Real Estate News. 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.
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