David Kirkpatrick

January 9, 2009

No Fannie or Freddie foreclosures for the month

Filed under: Business — Tags: , , , — David Kirkpatrick @ 3:47 pm

Good news for people in trouble with mortgages through these two.

From the link:

The government-controlled home loan giants said the extension will allow borrowers facing foreclosure to keep their homes as it works with mortgage servicers to find options for troubled mortgage holders under the Streamlined Modification Program.

Freddie and Fannie began the modification program in December, aiming to create more affordable mortgage payments for borrowers at risk of foreclosure. The program applies to borrowers who have missed three payments or more, own and occupy their homes, and have not filed for bankruptcy.

Under the program, borrowers can reduce their interest rate, extend the life of the loan or defer payments on part of the principal.

The extended hiatus on foreclosures will give Fannie more time to launch a new policy that will allow renters in company-owned foreclosed properties to stay in their homes, Fannie said in a news release. Details of the new policy have not been announced.

1 Comment »

  1. Have you been wondering who is responsible for the bank crisis and the failure of Fanny Mae and Freddie Mac? Every voting age American should be required to watch this video. The video is from 2004 Congressional hearings about regulating Fanny Mae and Freddie Mac. You will see Republicans pointing out problems and calling for more regulation of Fanny Mae and Freddie Mac. You will see Barney Frank, Maxine Waters and other Democrats denying there is a problem and criticizing the regulators and Republicans for trying to prevent the upcoming crisis. If this video doesn’t make you ashamed to be a member of the Democratic Party, nothing will.
    Proof positive that democrats are responsible for bank crisis

    Comment by The Intellectual Redneck — January 11, 2009 @ 1:49 pm


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: