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Freddie extends mortgage forbearance for unemployed
Jan 06, 2012Mortgage finance firm Freddie Mac will give unemployed borrowers a break on their mortgage for up to one year.
“These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies,” said Tracy Mooney, senior vice president of single-family servicing and REO at Freddie Mac.
“We believe this will put more families back on track to successful long-term homeownership,” Mooney adds.
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