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Fannie Mae Suspends Foreclosure Sales Pending Administration Announcement

WASHINGTON, DC — Fannie Mae (FNM/NYSE) today announced it is suspending all foreclosure sales and evictions of occupied properties through March 6 in anticipation of the Administration’s national foreclosure prevention and loan modification program.The company had previously put in place a suspension of foreclosure sales through January and had previously suspended all evictions through the [...]

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Written on February 24, 2009 | Posted in Bail Out Plan, Fannie/Freddie, Featured Articles, Foreclosures, Housing, Lending | No comment

U.S. housing bailout plan to be announced next week

A housing rescue plan being considered by the Obama administration could strike at the heart of the credit crisis but its scale, complexity, and the potential for controversy poses challenges for policymakers.
The plan is due to be announced by President Barack Obama on Wednesday and is expected to break new ground by helping troubled borrowers [...]

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Written on February 13, 2009 | Posted in Bail Out Plan, Housing, Lending | No comment