Sociable

Thursday, January 20, 2011

Fannie Mae delays foreclosures 45 days for Hardest Hit Fund programs

The states hardest hit by the foreclosure crisis are Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, Tennessee and Washington, D.C.
Fannie released guidance Wednesday detailing how its servicers should handle those loans that qualify for the state assistance, and notified them that they should be ready to receive funds from the HFAs within 60 days after a program is launched.
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