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The extensions are intended to keep consumers from being kicked out of their residences even if they can’t pay their mortgage or rent amid a surge in layoffs and lost income. In statements, Fannie and Freddie said the eviction moratoriums only apply to properties that the companies own. The eviction suspensions don’t apply to tenants living in homes that have not been foreclosed upon, Fannie and Freddie said.
8/27/20 | Seattle Times | Jesse Westbrook
Fannie Mae and Freddie Mac will extend their suspension of mortgage foreclosures through at least the end of the year, providing more relief for homeowners who are grappling with the economic pain of the coronavirus.
Fannie and Freddie, which backstop about $5 trillion of home loans, will also extend their moratorium on evictions from real-estate owned properties until at least Dec. 31, the Federal Housing Finance Agency said in a Thursday statement. The relief on foreclosures and evictions were both set to lapse at the end of the month. (READ MORE)
SOURCE: 8/27/20 | Seattle Times | Jesse Westbrook