Freddi Mac, Fannie Mae offer mortgage relief

WASHINGTON, D.C. – Two of the country’s best-known mortgage lenders want to help their borrowers financially impacted by the coronavirus pandemic.

Freddie Mac and Fannie Mae are detailing how they will help borrowers.

Fannie Mae said it will suspend foreclosure sales and evictions for 60-days.

Homeowners are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months.

Freddie Mac has a similar plan.

Both also will waive late fees, according to their statements.

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