Tag Archives: Unemployed to Get More Mortgage Relief

Unemployed home owners who have mortgages backed by Fannie Mae or Freddie Mac may be eligible for up to a 12-month reprieve from paying their mortgage or paying reduced payments for that time period. The mortgage giants’ program currently allows six months of relief to the unemployed. Freddie Mac announced that the changes will take effect Feb. 1. However, Freddie officials say extended one-year forbearance period will be temporary, and borrowers will still be responsible for eventually owing the payments they’ve missed. Fannie Mae announced it also would be implementing […]