Fannie and Freddie announced last week they will suspend Foreclosure sells until Jan 09 starting the day before Thanksgiving. No Foreclosures for the Holidays, business will resume 09.
This step coupled with the slowing of Housing Starts could lead to a tighter housing supply, thus stabilize declining market values, in areas that have noticed an increase in sells (West Coast).
Could this pro long the pain and drag out the historical foreclosure market we are enduring?
Might it be a strategic move to stabilize the market?
Check back with me in April 2009. In the meantime we will see REO Listings slow.
YourMortgagePlanner 2.0 www.yourmortgageplannersblog.com
