Freddie Mac, Fannie Mae Suspend Evictions for the Holidays and Unveil 3% Down Loan-Programs

twl_2014_dec_blog3In keeping with the spirit of the holiday season, Freddie Mac and Fannie Mae announced this week that they will suspend evictions on their foreclosed properties between Dec. 17 and Jan. 2. For the past several years, the mortgage companies have placed a moratorium on foreclosures to give struggling homeowners peace-of-mind knowing they will not need to find new housing during the holidays. The federal mortgage giants also unveiled new down-payment programs this week that will allow first-time home buyers to purchase a new home with just 3 percent down.  A recent article in the Chicago Tribune shares the highlights of the new programs as well as some of the criticism the low down-payment requirement is garnering from opponents.

Read the full article to learn more. Image Credit: Alan Levine