Thursday, December 18, 2008

Avoiding Foreclosure: New Online Resource by Freddie Mac

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Today, I found out about a new online resource center dedicated to the prevention of foreclosures presented by Freddie Mac. As I visited the homepage of this new resource center, I read about Freddie Mac's commitment to helping borrowers to avoid foreclosure and to keep them in their homes whenever possible. According to the website, the resource center provides a one-stop shop for those who interface with consumers - especially the Sellers, Servicers, and community-based organizations working in neighborhoods every day that are helping homeowners avoid foreclosure. Despite the recent troubles Freddie Mac has been facing, it is good to know that they are doing what they can to help homeowners stay in their homes.

The most notable thing I read was their announcement made on November 20, 2008 of their 6-week suspension of all foreclosure sales and scheduled evictions on occupied single family 1-4 unit residences with Freddie Mac-owned mortgages beginning November 26, 2008 through January 9, 2009. Here is a link to the new resource center presented by Freddie Mac:


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