Fannie Mae Extends Suspension of Foreclosure Sales

Day: January 16, 2009

Fannie Mae Extends Suspension of Foreclosure Sales

Fannie Mae Extends Suspension of Foreclosure Sales

In an effort to provide mortgage servicers more time to implement that Streamlined Modification Program (SMP), Fannie Mae will extend the suspension of foreclosure sales and evictions until Jan. 31. This initiative applies to loans owned or securitized by Fannie Mae. During the extension, Fannie Mae hopes that attorneys and loan servicers contact borrowers and…  Continue Reading

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Fannie Mae Promotes Short Sales?

Fannie Mae Promotes Short Sales?

During the past month, we’ve heard of several ideas and seen several attempts to give some relief to distressed homeowners facing foreclosure. Here are a few: interest rates have been lowered, loan modifications are being proposed, foreclosure moratoriums have been suggested as has the use of bankruptcy courts to restructure loans. The whole thing gives…  Continue Reading

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