Fannie, Freddie Halt Foreclosures for Holidays

washingtonpost.com — Fannie Mae and Freddie Mac announced that they are temporarily suspending foreclosures and evictions during the holiday season in an effort to keep people from losing their homes. The companies said they are taking the step so they can include more people in a newly announced program to change the terms of troubled mortgages to make them more affordable. The mortgage finance giants, seized by the government in early September, have been under pressure by lawmakers and housing advocates to take bolder steps to fight foreclosures. As the owners or backers of trillions of dollars of mortgages, the companies have an unrivaled ability to shape the home loan market and help people with distressed mortgages.

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