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Freddie Mac Delays Foreclosures for Service Members

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Freddie Mac Delays Foreclosures for Service Members

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Freddie Mac Delays Foreclosures for Service Members

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December 18 2010 (Chris Moore)
service-member-image
Freddie Mac has continued to show its support for our brave service members by instructing its servicers to delay initiating foreclosure for at least nine months for financially troubled members who are released from active duty through the end of 2011 and have Freddie-backed mortgages.

Anthony Renzi, Executive Vice President of Single Family Portfolio Management at Freddie Mac stated, “Our military make sacrifices every day to protect our homes and families. This small act will protect financially troubled service members when they return from active duty by giving them more time to work with their lender to stay in their home.”

According to the news release December 17th, Freddie Mac is making this protection a requirement for servicing their mortgages although its original authorization in the Housing and Economic Recovery Act of 2008 (HERA) expires on December 31, 2010.

The nine-month stay was originally authorized for service members under amendments to the Service members Civil Relief Act (SCRA) included in HERA.

Freddie Mac’s decision to extend the nine-month foreclosure stay will give lenders more time to work with service members that are having difficulty paying their mortgage.

Tags: freddie mac, service members, foreclosure, mortgages, freddie-backed mortgages, financially troubled service members

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Tips

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December 18 2010 (Chris Moore)
service-member-image
Freddie Mac has continued to show its support for our brave service members by instructing its servicers to delay initiating foreclosure for at least nine months for financially troubled members who are released from active duty through the end of 2011 and have Freddie-backed mortgages.

Anthony Renzi, Executive Vice President of Single Family Portfolio Management at Freddie Mac stated, “Our military make sacrifices every day to protect our homes and families. This small act will protect financially troubled service members when they return from active duty by giving them more time to work with their lender to stay in their home.”

According to the news release December 17th, Freddie Mac is making this protection a requirement for servicing their mortgages although its original authorization in the Housing and Economic Recovery Act of 2008 (HERA) expires on December 31, 2010.

The nine-month stay was originally authorized for service members under amendments to the Service members Civil Relief Act (SCRA) included in HERA.

Freddie Mac’s decision to extend the nine-month foreclosure stay will give lenders more time to work with service members that are having difficulty paying their mortgage.

Tags: freddie mac, service members, foreclosure, mortgages, freddie-backed mortgages, financially troubled service members

FILL OUT THE FORM

It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.

WE VERIFY & TRANSMIT TO LENDERS

Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.

REVIEW YOUR OFFERS

With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.

CHOOSE YOUR LENDER

Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.

HOW
MORTGAGELOANRATEUPDATE
WORKS

Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.

ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE

FAST & EASY. DATA ENCRYPTED

Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.

NO OBLIGATION. NO HIDDEN FEES

Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.

NO SSN OR CREDIT CHECK

No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

December 18 2010 (Chris Moore)
service-member-image
Freddie Mac has continued to show its support for our brave service members by instructing its servicers to delay initiating foreclosure for at least nine months for financially troubled members who are released from active duty through the end of 2011 and have Freddie-backed mortgages.

Anthony Renzi, Executive Vice President of Single Family Portfolio Management at Freddie Mac stated, “Our military make sacrifices every day to protect our homes and families. This small act will protect financially troubled service members when they return from active duty by giving them more time to work with their lender to stay in their home.”

According to the news release December 17th, Freddie Mac is making this protection a requirement for servicing their mortgages although its original authorization in the Housing and Economic Recovery Act of 2008 (HERA) expires on December 31, 2010.

The nine-month stay was originally authorized for service members under amendments to the Service members Civil Relief Act (SCRA) included in HERA.

Freddie Mac’s decision to extend the nine-month foreclosure stay will give lenders more time to work with service members that are having difficulty paying their mortgage.

Tags: freddie mac, service members, foreclosure, mortgages, freddie-backed mortgages, financially troubled service members

Home Buying Tips

Home Selling Tips

About
Mortgages

HOW
MORTGAGELOANRATEUPDATE
WORKS

FILL OUT THE FORM

It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.

WE VERIFY & TRANSMIT TO LENDERS

Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.

REVIEW YOUR OFFERS

With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.

CHOOSE YOUR LENDER

Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.

ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE

FAST & EASY. DATA ENCRYPTED

Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.

NO OBLIGATION. NO HIDDEN FEES

Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.

NO SSN OR CREDIT
CHECK

No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.