March 18, 2020 / 5:03 PM / 16 days ago

Regulator orders 60-day freeze on foreclosures and evictions for Fannie, Freddie mortgages

WASHINGTON, March 18 (Reuters) - Homeowners with mortgages backed by Fannie Mae and Freddie Mac will not have to face foreclosure or eviction for at least 60 days as the U.S. deals with coronavirus, a housing finance regulator announced Wednesday.

The Federal Housing Finance Agency said the relief is aimed at ensuring homeowners who are struggling to make mortgage payments due to virus's economic impact are not kicked out. The pair guarantee roughly half of the nation's residential mortgages. (Reporting by Pete Schroeder, Editing by Franklin Paul)

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