The Real Deal Miami

Freddie Mac suspends occupied home foreclosures

November 26, 2008 03:52PM

Freddie Mac announced today that it has told all of its
mortgage servicers and foreclosure attorneys to suspend foreclosure
sales and
evictions for occupied single-family and two- to four-unit properties
today and January 9. The suspension is intended to give mortgage
servicers time to implement a more streamlined loan modification
program and to help
borrowers avoid foreclosure. The suspension of foreclosure sales does
not apply
to vacant single family homes, but the eviction suspension does.