Freddie Mac and Fannie Mae have announced that they will work to help keep Americans in their homes, placing a suspension on foreclosures starting November 26, 2008 through January. 9, 2009.
Fannie Mae's website says, "The temporary suspension of foreclosures is designed to allow affected borrowers facing foreclosure to retain their homes."
Freddie Mac had a similar statement: "The temporary suspension is also expected to give servicers more time to help borrowers avoid foreclosure."
Every little bit helps.
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