xxxx

In a special measure around the holiday season, Freddie Mac and Fannie Mae are holding off on foreclosures for about 16,000 homes.

They said today that they will be halting foreclosure sales between November 26, 2008 and January 9, 2009. During which time, they will be evaluating whether or not the borrowers will be eligible for a loan modification program that was announced last week.

This is good news for families that didn’t know whether or not they would be able to have a roof over their heads for the holidays. At the same time, after January 9, some of those families will still be facing foreclosure.

Jeremy

View all posts by Jeremy
Jeremys website