Fannie, Freddie extend eviction freeze

Fannie Mae and Freddie Mac have extended their freeze on evictions of foreclosed homeowners until March. Renters in homes that have been repossessed by the two mortgage finance companies will be allowed to remain, paying monthly leases at market rates. Homeowners who have already lost their homes to foreclosure will also be allowed to rent the properties back at market rates. Fannie Mae said it expects to announce new rent-to-own mortgage programs, and other initiatives meant to help homeowners in foreclosure, soon.