Freddie extends mortgage forbearance for unemployed

Mortgage Fraud, Forbearance and Foreclosure Mortgage servicers can now approve unemployed borrowers with Freddie Mac owned- or guaranteed-loans for six months of forbearance without prior approval from Freddie Mac. Servicers can extend the.

Mortgage financier Freddie Mac announced late last week that it was expanding its forbearance program for unemployed borrowers.. Beginning on February 1, mortgage loan servicers will be able to offer forbearance to unemployed borrowers for up to six months without prior approval from Freddie Mac.

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The edict gives servicers the ability to forebear a mortgage for six months without prior approval from Freddie. Freddie Mac can approve an additional six months after that. Previously, Freddie Mac allowed servicers to grant up to three months of forbearance with no payment, or six months at a reduced payment, without prior approval.

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Mortgage finance firm Freddie Mac will give unemployed borrowers a break on their mortgage for up to one year.

Freddie Mac Extends Forbearance for Unemployed Homeowners January 6, 2012 Freddie Mac has announced an extension of forbearance for unemployed borrowers of up to 12 months.

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Fannie Mae and Freddie Mac, are revising their policies on forbearance when unemployment interferes with your ability to stay current on your loan. Forbearance means that a lender or mortgage.

 · The edict gives servicers the ability to forebear a mortgage for six months without prior approval from Freddie. Freddie Mac can approve an additional six months after that. Previously, Freddie Mac allowed servicers to grant up to three months of forbearance with no payment, or six months at a reduced payment, without prior approval.

Freddie Mac extends its mortgage forbearance program for the jobless to up to 12 months.

The Home Affordable Unemployment. UP forbearance plan term must be three months or upon reemployment, whichever is less. Servicers may extend this period according to their investor/regulatory.

Freddie Mac Extends Forbearance To Unemployed Freddie Mac has given mortgage servicers the authority to expand loan forbearance to unemployed borrowers an additional six months for a total of one.

Mortgage finance firm Freddie Mac just announced that it will give unemployed borrowers a break on their mortgage for up to one year. "These expanded forbearance periods will provide families