Vacant Properties will not be Effected.
This is interesting:
“In connection with the streamlined modification program announced jointly by
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.
