FANNIE/FREDDIE LAUNCH NEW INITITIVES

 

          Two new initiatives from Fannie Mae-home Affordable Refinance and Home Affordable Modification-are now available to its servicers and borrowers as part of the Obama Administration's "Making home Affordable" program.

 

          The two initiatives to significantly expand the numbers of borrower   who can refinance or modify their mortgages to a payment that is affordable now and into the future.

 

Freddie Mac launched its new REO Rental Initiative giving qualified tenants and former owners the option to lease their recently foreclosed properties on a month-to-month basis.  Freddie Mac also will continue to suspend all evection actions until April1, 2009 to ensure there is ample time for current

occupants to learn about the options available to them under a new initiative.