Fannie, Freddie Extend Foreclosure Moratorium for Huricane Sandy Victims

Posted To: MND NewsWireHomeowners whose homes were damaged by the late October super-storm Sandy are getting an extension of the mortgage relief extended immediately after the storm. The Federal Housing Administration (FHA) and Fannie Mae and Freddie Mac (the GSEs) will extend their respective 90 day moratoria on foreclosures and evictions that were authorized in November for an additional 90 days . Secretary of Housing and Urban Development Shaun Donovan and Edward J. DeMarco , acting director of the Federal Housing Finance Agency (FHFA) announced the extensions on Thursday. The moratoria apply to homeowners with properties in the nine states and the District of Columbia which were declared disaster areas after the Hurricane and halt both foreclosure starts and foreclosures already in process. "Its all too clear...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.http://www.mortgagenewsdaily.com/01312013_hurricane_sandy.asp @ uwad.com