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Fannie Mae to Suspend All Foreclosures until January 2009

20 Nov Posted by Don in Mortgages | 2 comments
Fannie Mae to Suspend All Foreclosures until January 2009

Fannie Mae has just issued a press release letting it be known that they have ordered their loan servicers and attorneys to suspend any and all foreclosures scheduled from next week to the end of the year in homes that are owner occupied. This is being done while Fannie figures out how to implement a better loan modification program with all of its loan servicers.  This should help out with inventory numbers in early 2009.

 

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