Posted To: MND NewsWire

Both government sponsored enterprises (GSEs) have announced that their nationwide suspension of single-family foreclosures and evictions has been extended through the end of the year. The suspension, one of several relief options Fannie Mae and Freddie Mac originally announced in March when the COVID-19 national emergency was invoked, has been extended on short term basis and was most recently set to expire on August 31. In addition to the suspension, the two companies continue to allow Their loan servicers to provide up to 12 months forbearance to households financially impacted by the coronavirus and to waive assessments of penalties or late fees. Loan modifications will be available to borrowers at the end of the forbearance period and the companies have provided a menu of options for borrowers…(read more)

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Source: Mortgage News Daily