Freddie Mac starts plan for renting foreclosures
Freddie Mac on Thursday launched a program that makes it possible for people facing eviction because of foreclosure to remain in their homes as renters. The government-controlled mortgage finance company also announced it is extending its moratorium on foreclosure-related evictions through April 1.
The foreclosure rental initiative, which Freddie Mac (nyse: FRE – news - people ) announced in January, aims to prevent properties from becoming vacant and falling into disrepair. The company has about 8,500 properties in the foreclosure process, but many of those are vacant.
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