Freddie Mac announced Friday it will extend its suspension of evictions triggered by foreclosures on single family properties with Freddie Mac-owned mortgages through February 28, 2009. Freddie Mac is also launching a new strategy to offer qualified owner-occupants and tenants leases so they can rent the properties on a month-to-month basis after foreclosure.
According to their press release, “First and foremost, Freddie Mac’s REO Rental Option is intended to help cushion the impact of foreclosure on families who own or rent homes with Freddie Mac-owned mortgages,” said David M. Moffett, Chief Executive Officer of Freddie Mac. “At the same time keeping foreclosed properties occupied and in better repair will support local property values and promote a faster recovery in the housing market.”
For more information, go to http://tinyurl.com/bzyoht.
No comments:
Post a Comment