Foreclosure Defense: Fannie, Freddie Foreclosure Suspensions Extended Through March 6

The Associated Press reports:

  • Government-controlled mortgage finance companies Fannie Mae and Freddie Mac said Friday they have immediately suspended all foreclosure sales involving occupied single-family and 2-4 unit properties through March 6, to give troubled borrowers more time to work with loan servicers to avoid losing their homes. The move, which doesn’t apply to vacant properties in foreclosure, is ahead of the Obama administration’s roll-out of its national foreclosure prevention and loan modification program.

For more, see Fannie Mae, Freddie Mac again suspend foreclosures.