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Fannie, Freddie Suspend Foreclosures Through Jan. 9 Archived From: Finance

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alert mods    
   posted: Nov. 20, 2008 @ 7:41p

Nov. 20 (Bloomberg) -- Fannie Mae and Freddie Mac, the mortgage-finance companies seized by the U.S. government, will suspend foreclosures and evictions over the holidays.
link


   posted: Nov. 20, 2008 @ 7:42p

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.


alert mods    
   posted: Nov. 20, 2008 @ 7:45p

they also launched a loan mod program I detailed in the loan mod faq:

http://www.fatwallet.com/forums/finance/879848/'

This suspension and the mod program only affect Fannie/Freddie loans. Stupid question: how does one know if their loan is held by Fannie/Freddie? Isnt servicing usually with a bank? Does the average customer even know if Fannie/Freddie holds their loan?

s


alert mods    
   posted: Nov. 20, 2008 @ 8:11p

My mortgages are listed with FRE and FNM on my Transunion credit report. I have one of each. I am not sure if these are 100% accurate.

Edit: It is also listed on my Equifax report. These are both PDFs from the free annualcreditreport.com online reports.


alert mods    
   posted: Nov. 20, 2008 @ 8:17p

Darn, I wanted to see Tiny Tim get evicted on Christmas.


alert mods    
   posted: Nov. 20, 2008 @ 8:29p

So we should be prepared for the inevitable panic come February, when they report that, for some reason, the foreclosure rate shot through the roof in January?


alert mods    
   posted: Nov. 21, 2008 @ 9:19a

I'll stop paying my mortgage immediately!


alert mods    
   posted: Nov. 21, 2008 @ 10:11a

SUCKISSTAPLES said:question: how does one know if their loan is held by Fannie/Freddie? Isnt servicing usually with a bank? Does the average customer even know if Fannie/Freddie holds their loan?
The average customer probably does not, but if you have access to your county property records, you can probably find out. According to our county recorder's office, my mortgage was sold to Freddie Mac a week or so after I closed.


alert mods    
   posted: Nov. 21, 2008 @ 11:08a

my loan in transunion shows collateral as Freddie mac with some number(I don't know what it means)
But it is listed under bank name.

Equifax shows under bank name(no mention of freddie)
So is it with bank or Freddie? anyone knows?
Also county record shows bank name and has not changed since closing.

BTW it's always helpful to know who owns your mortgage just in case things go south and you need to negotiate.(not to be confused with servicer)

 

Thanks


alert mods    
   posted: Nov. 21, 2008 @ 11:32a

... and I'm sure that deadbeats everywhere are rejoycing.


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