- Robert Weed
Many Foreclosures Get a Virus Hold
The Federal Government is Pausing Foreclosures on Mortgages They Control.
Last week the Federal Housing Finance Agency announced a 60 day pause on foreclosures on mortgage loans the government controls. Those are mortgage loans controlled by Fannie Mae or Freddie Mac. (Fannie and Freddie were government backed, private businesses. The government bailed them out during the housing crisis in 2008, and they are still pretty much government run.)
Are you wondering if this applies to your mortgage?
Both Freddie and Fannie have websites where you can see if they own your loan.
Here’s the Freddie lookup.
Here’s the lookup for Fannie.
In March, the government announced a 60 day foreclosure pause, on mortgages the government controls.
Does this apply to any other loans? FHA and VA
The 60 pause also applies to loans backed by the FHA–Federal Housing administration. There doesn’t seem to be any one place you can look up whether your loan is an FHA loan. I sometimes see it on some credit reports. (Sometime’s isn’t much help.) Your closing papers when you financed the house are supposed to show that somewhere. And I guess you can call your mortgage servicer and ask.
The 60 pause also applies to loans backed by the VA.