Fannie Mae and Freddie Mac announced today that they are suspending foreclosure sales of owner-occupied homes from November 26, 2008 to January 09, 2009. Forecloaure sales for second homes and investment properties will not be suspended.
They are doing this while they create new procedures for the streamlined loan modification plan that I discussed in my post dated [...]

The answer to this question could be in the difference between your Loan Servicer and your Note Holder.    

Recall the classic Christmas movie, It’s a Wonderful Life.

In “George Bailey” days, the Bank or S&L that originated your loan was also likely to remain your Note Holder for the entire term of your loan or [...]

Today, a unified effort on the part of the Federal Housing Financing Agency (FHFA), Fannie Mae and Freddie Mac, and the 27 loan servicers of the Hope Now program announced a new, streamlined plan to speed-up loan modifications for distressed homeowners.
The plan will help qualified homeowner’s (with Fannie Mae and Freddie Mac loans) facing foreclosure [...]