Fannie, Freddie Expand Relief To Homeowners Hit By Sandy

Law360, New York (November 9, 2012, 3:53 PM EST) -- Fannie Mae and Freddie Mac will expand their assistance to borrowers whose homes were damaged or destroyed by Superstorm Sandy, suspending evictions or foreclosures on homes secured by mortgages they hold, Fannie and Freddie announced Friday.

The U.S. government-controlled mortgage giants said they will automatically suspend evictions and foreclosures for 90 days in eligible disaster areas designated by the U.S. Federal Emergency Management Agency. Additionally, they said, they will extend forbearance for up to 12 months on a case-by-case basis.

Friday’s announcement expands on assistance and...
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