Are you unemployed in Chesterfield or Powhatan Virginia with a Freddie Mac mortgage?

Freddie Mac announced it is giving mortgage servicers expanded authority to provide six months of forbearance to unemployed borrowers without Freddie Mac’s prior approval and up to an additional six months with prior approval. This means unemployed borrowers may be eligible for up to 12 months of forbearance. Freddie Mac’s forbearance options are being expanded at the direction of the Federal Housing Finance Agency and will take effect on February 1, 2012.

If you live in Chesterfield or Powhatan, Virginia and are unemployed and have a Freddie Mac mortgage, this could help you to avoid a short sale or foreclosure and hopefully be able to save your home.