Freddie Mac Stops Foreclosure Sales on Loans Eligible for New Obama
Home Affordable Modification Program
Freddie Mac announced it is suspending foreclosure sales on mortgages
eligible for the Home Affordable Modification Program as part of the Obama Administration’s Making Home
Affordable plan. Freddie Mac’s previously announced suspension of foreclosure sales on occupied properties
will expire on March 6, 2009. Specifically, Freddie Mac will instruct its servicers not to complete a foreclosure
sale on a mortgage eligible for the Home Affordable Modification program unless they completed their effort
to contact the borrower and either the borrower did not respond or lacked the capacity or willingness to
participate in the Home Affordable Modification program or any other Freddie Mac workout program.
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