{"id":8307,"date":"2015-09-10T13:14:03","date_gmt":"2015-09-10T13:14:03","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=8307"},"modified":"2015-09-10T13:14:03","modified_gmt":"2015-09-10T13:14:03","slug":"fannie-freddie-extend-foreclosure-timelines","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/fannie-freddie-extend-foreclosure-timelines\/","title":{"rendered":"Fannie, Freddie Extend Foreclosure Timelines"},"content":{"rendered":"

Fannie, Freddie Extend Foreclosure Timelines<\/h2>\n

 <\/p>\n

\"Fannie,<\/a>

Fannie, Freddie Extend Foreclosure Timelines. Image courtesy of Stuart Miles \/ FreeDigitalPhotos.net<\/p><\/div>\n

Mortgage financing giants Fannie Mae and Freddie Mac are increasing the maximum number of days for a foreclosure sale in the majority of the country. Fannie Mae and Freddie Mac announced that 33 states would see an increase in the maximum number of allowable days for “routine” foreclosure proceedings.<\/p>\n

The new foreclosure timelines will apply to all foreclosure sales completed on or after Aug. 1.<\/p>\n

The new timelines represents the maximum allowable period between the due date of the last paid installment and the completion of the foreclosure sale. The timeframe also reflects the time that is typically required for a “routine, uncontested” foreclosure proceeding.<\/p>\n

The amount of extensions varies by state. For example, in Maine, Freddie Mac is increasing the foreclosure timeline by 300 days \u2013 from 690 days to now 990 days. In Hawaii, the foreclosure timeline is increasing by 240 days \u2013 840 days to 1,080 days. Other states saw much smaller extensions, such as Arizona and Washington, which increased from 330 to 360 days.<\/p>\n

Oregon saw the longest foreclosure timeline extension by an added 480 days \u2013 600 days to now 1,080 days.<\/p>\n

Fannie Mae and Freddie Mac say that if the amount of time to complete the foreclosure sale exceeds the maximum number of allowable days and the servicer fails to provide an adequate explanation for the delay, the GSEs will require the servicer to pay a “compensatory fee.”<\/p>\n

The following states have had foreclosure sale timelines extended: Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Nevada, New Mexico, New Hampshire, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Dakota, Tennessee, Texas, Vermont, Washington, West Virginia, Wisconsin, and Wyoming.<\/p>\n

Source: “Freddie Mac Joins Fannie Mae in Extending Foreclosure Timelines,” HousingWire (Sept. 4, 2015)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Fannie, Freddie Extend Foreclosure Timelines   Mortgage financing giants Fannie Mae and Freddie Mac are increasing the maximum number of days for a foreclosure sale in the majority of the country. Fannie Mae and Freddie Mac announced that 33 states would see an increase in the maximum number of allowable days for “routine” foreclosure proceedings. … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-8307","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nFannie, Freddie Extend Foreclosure Timelines - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/fannie-freddie-extend-foreclosure-timelines\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Fannie, Freddie Extend Foreclosure Timelines\",\"datePublished\":\"2015-09-10T13:14:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/\"},\"wordCount\":310,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/09\\\/ID-100271324.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/\",\"name\":\"Fannie, Freddie Extend Foreclosure Timelines - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/09\\\/ID-100271324.jpg\",\"datePublished\":\"2015-09-10T13:14:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fannie-freddie-extend-foreclosure-timelines\\\/#primaryimage\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/09\\\/ID-100271324.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/09\\\/ID-100271324.jpg\",\"width\":400,\"height\":400,\"caption\":\"Fannie, Freddie Extend Foreclosure Timelines. 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