Freddie Mac

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South Carolina Freezes Foreclosures 

May 06, 2009By

The South Carolina Supreme Court placed a temporary moratorium on thousands of foreclosure sales on properties guaranteed by Freddie Mac [stock FRE][/stock], Fannie Mae [stock FNM][/stock] or any other company that has signed on for the Obama Administration’s Making Home Affordable modification plan. The ruling marks the first statewide court-ordered foreclosure freeze and aims to allow servicers additional time to evaluate borrowers for eligibility in the program.

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Updated 11 months ago