FANNIE AND FREDDIE - HALTING FORECLOSURES SHORT TERM. FOR THE HOLIDAYS
Fannie Mae and Freddie Mac are suspending foreclosures for about 16,000 households during the holiday season.
The two companies said Thursday that they will halt foreclosure sales between Nov. 26 and Jan. 9, while they evaluate whether borrowers qualify for a new loan modification program announced last week.
The Federal Deposit Insurance Corp. estimates that more than 4.4 million borrowers will become delinquent by the end of next year, not including loans backed by Fannie and Freddie.
(Personally - I think that estimate will turn out to be too low..)
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