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Fannie and Freddie suspend evictions, foreclosures in areas hard-hit by Sandy

In the wake of last week’s hurricane, Fannie Mae and Freddie Mac is expanding assistance to those whose properties were destroyed or sustained damage during the storm. Evictions and foreclosures will be suspended for 90 days in storm disaster areas and both Fannie and Freddie gave servicers more leeway to suspend payments, waive late payment fees and provide modifications on loans for owners in storm-stricken areas. As The Real Deal previously reported, mortgage applications slipped [more]

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