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Fannie, Freddie extend freeze on evictions



Country:  United States

2 February 2009

Fannie Mae and Freddie Mac have extended their freeze on evictions of repossessed homeowners until March.

People who are currently renting homes in the USA that have been repossessed by the two mortgage finance companies will be permitted to remain in the properties, paying monthly leases at market rates.

Homeowners who have already been repossessed will also be allowed to rent the properties back at market rates.

Fannie Mae is expected to announce new rent-to-own mortgage programmes, and other initiatives meant to assist homeowners who have had their homes repossessed.



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