Fannie Mae (just like Freddie Mac) has issued a Lender Letter announcing that it will halt all foreclosure sales on occupied single-family properties that are scheduled to occur between November 26, 2008 and January 9, 2009. This temporary halt also applies to eviction lockouts of occupied single-family properties. During this period, servicers are encouraged to continue working with borrowers whose foreclosure sales have been halted to pursue possible workout solutions.  

 
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5 Comments on Now, ready for this....

NOV
20

Just read that also on MSN......very interesting.

5:26pm • #1
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Evening Fred,  Seems like we are seeing more and more of this.  I wonder how much of it is aimed at avoiding this calamity during the holiday season ?

5:36pm • #3

Yes that is correct - no one wants of see the bad Fannie forcing families out of the homes just before Christmas - on the evening news.  Especially after we were asked to bail them and Freddie out with our future tax dollars. 

Beverly Bayer 

6:11pm • #4
NOV
24
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So, what happens after this brief moratorium? Business as usual?  Put folks out in the middle of the winter.

10:23pm • #5

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Fred Glick

Philadelphia, PA

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U S Spaces, Inc & U S Loans Mortgage LLC

Address: 222 W Rittenhouse Square, Box 15888, Philadelphia, PA, 19103

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Cell Phone: (215) 852-4469

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Fred Glick's opinions, ideas and expressions on the state of real estate and mortgages.


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