Fannie Mae and Freddie Mac announced that they will be halting foreclosures from November 26, 2008 until January 9, 2009. The six week suspension of foreclosures will allow those facing foreclosure to retain their homes while Fannie and Freddie work on unveiling a streamlined loan modification program to be unveiled on the 15th of December. For more details, please read the announcements from their respective web sites mentioned above.
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