Freddie extends mortgage forbearance for unemployed

Freddie Mac extends forbearance to unemployed borrowers Posted on January 12, 2012 by Leonardo Gonzalez Freddie Mac is giving mortgage servicers expanded authority to provide six months of forbearance to unemployed borrowers without Freddie Mac’s prior approval and up to an additional six months with prior approval.

An extended forbearance period may be provided to unemployed borrowers who. Royal Credit Union may be the servicer of your mortgage for Freddie Mac,

Govt. Shutdown, Your Pay and Your Mortgage Freddie Mac’s forbearance options are being expanded at the direction of the Federal Housing Finance Agency and will take effect on February 1, 2012. news facts: mortgage servicers can now approve unemployed borrowers with Freddie Mac owned- or guaranteed-loans for six months of forbearance without prior approval from Freddie Mac.

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The Home Affordable Unemployment. UP forbearance plan term must be three months or upon reemployment, whichever is less. Servicers may extend this period according to their investor/regulatory.

Freddie Mac noted, "Under a new freddie mac mortgage modification option, after the disaster forbearance ends, the servicer can add skipped payments to the outstanding loan balance and extend the.

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Mortgage servicers can now approve unemployed borrowers with Freddie Mac owned- or guaranteed-loans for six months of forbearance without prior approval from Freddie Mac. Servicers can extend the.

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Freddie extends mortgage forbearance for unemployed Posted on January 8, 2012 – 06:26 PM by Steve Thomas Mortgage finance firm Freddie Mac will give unemployed borrowers a break on their mortgage for up to one year.

Good news for unemployed homeowners at last, as Fannie Mae says it will provide additional aid to those who are out of work and struggling to pay their mortgages, by extending the forbearance.

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Freddie extends mortgage forbearance for unemployed. Mac will give unemployed borrowers a break on their mortgage for up to one year.

National Mortgage Delinquency Rate Swells to 9.2% in May: LPS A report released today by CoreLogic, one of the nations leading providers of property information, shows that U.S. home prices increased in May by 2.0percent from the year before and increased by 1.8 percent from the month before marking the third-consecutive month U.S. home prices have increased on both a year-over-year as well as month-over-month basis.

The White house forbearance program that was announced includes the following points: Fannie Mae and Freddie Mac loans: These loans cover about 50% of the mortgage market. The forbearance for unemployed will increase from 3 months to 12 months.