Foreclosure Sales Halted in Hurricane-Hit Areas

Washington Post (10/10/08) P. D4
Through Dec. 31, mortgage servicers may not proceed with foreclosure sales in areas of Texas and Louisiana classified as federal disaster areas due to Hurricane Ike. Freddie Mac says mortgages in default before the storm also are covered by the firm's mandate. Servicers will consider on a case-by-case basis whether to move forward with foreclosure or offer more relief once the moratorium ends.