It's been reported today that Fannie Mae and Freddie Mac foreclosures will be suspended during the holiday season. The hiatus is designed to give servicers more time to implement a streamlined loan modification program for struggling borrowers.
Two good messages with this story
- People can stay in their current homes and focus on their plans for after the first of the year
- A loan modification program may mean that some people will be able to keep their homes and ultimately, this may mean a reduction in the supply of homes for sale.
Copyright © 2008 By Mike Canzano, All Rights Reserved. Cape Coral Foreclosures Suspended
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