Freddie Mac Expands Hurricane Sandy Relief, Suspends All Evictions and Foreclosures

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Posted To: MND NewsWire

Freddie Mac has declared a mandatory suspension of evictions and foreclosures on homes secured by mortgages it owns or guarantees which were affected by Hurricane Sandy . The company announced this and other steps today after consulting with its conservator the Federal Housing Finance Agency (FHFA.) Hurricane Sandy and its related storm surge did enormous damage on October 28 and 29 along the east coast from North Carolina to Connecticut and especially in seacoast New Jersey and several boroughs of New York City. On October 30 Freddie Mac announced it was making its full range of disaster relief services available, allowing servicers to suspend foreclosure and eviction proceedings for up to 12 months on a case-by-case basis, waiving penalties or late fees, and not reporting delinquencies or...(read more)

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