mortgage payment relief may be available on fannie mae and freddie mac loans: Mortgage Payment Relief May be Available on Fannie Mae and Freddie Mac Loans - 01/24/12 06:56 AM
Mortgage Payment Relief May be Available on Fannie Mae and Freddie Mac Loans. Huge news for people who are temporarily unemployed. Fannie and Freddie will begin implementing "forbearance" programs beginning March 1st and Feb.1st (respectively).
The following information was published in the LA TIMES by Kenneth R. Harney  http://www.latimes.com/  January 22, 2012
On loans they own or have securitized, Fannie and Freddie are now directing servicers to forbear when a borrower can show a job loss.

Unlike the companies' earlier rules, servicers can grant half a year of reduced or suspended payments without getting permission in advance.
If … (3 comments)

 
Maureen Megowan, Palos Verdes Real Estate Blog (Remax Estate Properties - )

Maureen Megowan

Palos Verdes Real Estate Blog

Palos Verdes Estates, CA

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