Cape Coral Foreclosures Suspended

It's been reported today that Fannie Mae and Freddie Mac foreclosures will be suspended during the holiday season. The hiatus is designed to give servicers more time to implement a streamlined loan modification program for struggling borrowers.

Two good messages with this story

1. People can stay in their current homes and focus on their plans for after the first of the year
2. A loan modification program may mean that some people will be able to keep their homes and ultimately, this may mean a reduction in the supply of homes for sale.

Copyright © 2008 By Mike Canzano, All Rights Reserved. Cape Coral Foreclosures Suspended