Calyx Software releases Point 6.2b update

Freddie Mac extends suspension of single-family foreclosure sales, evictions until Jan. 31stMortgagePress.comFreddie Mac, foreclosures, David M. Moffett, Streamlined Modification Program, FHFA, HOPE N Freddie Mac has announced it is extending its suspension of all foreclosure sales and evictions involving occupied single family and two- to four-unit properties with Freddie Mac-owned mortgages through Jan. 31, 2009. The suspension does not apply to vacant single family properties. "Freddie Mac is committed to pursuing every responsible opportunity to reduce foreclosures and accelerate the return of stability to the U.S. housing market," said Freddie Mac Chief Executive Officer David M. Moffett. "Today's announcement will provide Freddie Mac and its servicers additional opportunities to help put more families on the path to stable homeownership." The extension will also provide servicers with more time to help troubled borrowers find an alternative to foreclosure and implement the Streamlined Modification Program that went into operation on December 15, 2008. Developed by Freddie Mac, Fannie Mae, the Federal Housing Finance Agency (FHFA), HOPE Now and 27 mortgage servicers, the Streamlined Modification Program was designed to expedite loan modifications for eligible borrowers who have missed three or more mortgage payments. Freddie Mac gives lenders servicing its mortgages broad authority to help troubled borrowers before they miss a payment through forbearance as well as provide permanent rate reductions, mortgage term extensions or other modifications to borrowers who are already delinquent. In 2008 Freddie Mac enabled three out of five of its delinquent borrowers avoid foreclosure. For more information, visit www.freddiemac.com.