According to California Association of Realtors, Freddie Mac will require its servicers to delay initiating foreclosure for at least nine months for service members released from active duty and suffering financial difficulties in 2011.
Time will tell whether this delay policy is more effective than other purported programs designed to “help” financially troubled homeowners.
Mary K. Lenahan, Realtor
The Professional Difference
(626) 629.8709
Mary.Lenahan.Dilbeck.com
Your Business & Referrals Are Appreciated!
SEARCH THE MLS HERE
The Professional Difference
(626) 629.8709
Mary.Lenahan.Dilbeck.com
Your Business & Referrals Are Appreciated!
SEARCH THE MLS HERE
DRE 01867737
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Filed under: foreclosure, loan modification, Mortgages, Real Estate | Tagged: active duty, financial difficulties, financially troubled homeowners, foreclosure, Freddie Mac, homeowners, service members |
Other Protections for Active Duty Military
Congress members want investigations into violations of the law which prohibits banks from charging more than 6% interest on the debts of active-duty service members and from foreclosing on their homes.
http://www.latimes.com/business/la-fi-military-foreclosure-20110202,0,7541419.story