This is a silver lining in a dark cloud, Freddie Mac and Fannie Mae are suspending all foreclosures until January 9th.
Fannie Mae and Freddie Mac, the mortgage-finance companies seized by the U.S. government, are suspending foreclosures beginning next week through Jan. 9.
The six-week suspension on foreclosures and evictions is intended to give loan servicers more time to implement a streamlined loan modification program for struggling borrowers, the companies said in separate statements today.
Refinancing at lower principle here we come?
Of course getting thrown out into the street in the dead of winter ain't no fun but at least we won't see as many homeless during the holidays. Of course that doesn't count all of the renters who can't make the bills due to losing their job.