This is somewhat old news (from last Friday), but Fannie and Freddie have extended their foreclosure freeze.  From the AP via Newsday: MCLEAN, Va. (AP) — Government-controlled mortgage finance companies Fannie Mae and Freddie Mac said Friday they have immediately suspended all foreclosure sales involving occupied single-family and 2-4 unit properties through March 6, to [...]

Two key Senators on the Senate Banking Committee have reached an agreement to help distressed homeowners. According to Bloomberg: “The primary goal is to keep people in their homes, but also to help establish a floor and a bottom” to the housing slump, Dodd, a Connecticut Democrat, told reporters during the call. The proposed legislation [...]

Lenders are in a bind. With foreclosures increasing every day, their REO departments are overloaded. Foreclosure is expensive and banks are in no mood to be property owners. So, why not just try to work thing out with the distressed borrower? That seems to be the line of thinking as major lenders have announced that [...]