Also on November 20, Fannie Mae and Freddie Mac announced that they will suspend foreclosures and evictions between November 26, 2008,and January 9, 2009. This is to allow mortgage servicers time to work with borrowers under the streamlined modification program that was announced by the Federal Housing Finance Agency on November 11. The temporary suspension will permit affected borrowers facing foreclosure to remain in their homes while Fannie Mae and Freddie Mac work with servicers to implement the program, which is scheduled to launch on December 15. Foreclosure attorneys and loan servicers are encouraged to use the interlude to reach out to seriously delinquent borrowers and try to work out a solution less drastic than foreclosure.
 

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