Fannie Mae and Freddie Mac said Friday that they would suspend the eviction of owner-occupants and renters from properties going into foreclosure for another month, until Feb. 28.
Fannie's policy allows tenants and former owner-occupants with adequate income to stay in homes owned by the government-sponsored enterprise by leasing them on a month-to-month basis after foreclosure. Qualified renters and owner-occupants also may receive financial assistance to move to new housing.
Freddie said it launched a similar policy to suspend evictions.
Still, reaching delinquent borrowers remains a major problem.
Ingrid Beckles, a Freddie senior vice president of default asset management, said in a press release that it has "no conversation" with half of seriously delinquent borrowers whose properties end in foreclosure.
