NEW YORK (Reuters) - Fannie Mae and Freddie Mac, the two biggest home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, one of the biggest moves to date by the government to stem the tide of evictions and home losses.
Fannie Mae and Freddie Mac said hiatus on foreclosures -- which will run from November 26 through January 9 -- will give mortgage servicers more to work out easier borrowing terms for troubled homeowners.
Regulators and lawmakers have leaned harder on the two companies to help stabilize the crumbling U.S. housing market. since they own or control more than half of the mortgages outstanding.
Fannie Mae and Freddie Mac were effectively taken over by the government in early September on worry that mortgage losses were hurting their ability to remain viable and thus backstop the mortgage market.
(Reporting by Al Yoon and Dan Burns)
Publié le 20 novembre 2008 Copyright © 2008 Reuters
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