Congratulations, American taxpayers! You just gave a Christmas gift of free rent for two months to people who couldn't afford the house they bought, thanks to Fannie and Freddie!
SAN FRANCISCO (MarketWatch) --
Fannie Mae said late Thursday that they will temporarily suspend foreclosures on occupied homes while the companies work on a streamlined modification program expected out in December. Fannie and Freddie will not foreclose on occupied homes from Nov. 26 to Jan. 9. Fannie said it will reach out to 10,000 affected borrowers and Freddie will reach out to 6,000 affected borrowers.
Aren't you so happy that you gave this gift? You didn't even need to be asked before giving it.
And if you had to go without to get your mortgage payment in on time, but managed to do it anyway? You get the bill.
