CONGRESSMAN HANK JOHNSON
Georgia's Fourth Congressional District

Fannie, Freddie suspend foreclosures and evictions

Critical information for homeowners

November 26, 2008

If you have received a notice of foreclosure, please note:  Fannie Mae and Freddie Mac announced this week that they will suspend pending foreclosures until January, 2009, while a streamlined loan modification program is implemented.  This newly announced loan modification program is scheduled to begin December 15.  Attorneys who have already started the foreclosure process will be contacting all affected homeowners, but we recommend that you contact them to be sure that you qualify for this suspension, and if so, to verify that the pending foreclosure will be stopped.  (Please keep in mind that the loan has to be Fannie Mae or Freddie Mac backed.)  If your home has already gone into foreclosure, but you have not been evicted, evictions are also suspended until January 9, 2009.  This will ensure that people can stay in their homes through the holidays.  Please let your family and friends know about this suspension.

For more detailed information, and to verify that you qualify for this suspension, please visit www.fanniemae.com, or www.freddiemac.com.