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by CareyBot

Mortgage giant Freddie Mac will defer October and November mortgage payments for single-family borrowers affected by Hurricane Rita, the government-sponsored enterprise said Tuesday. In addition to suspending the next two months of mortgage payments, Freddie Mac is also extending Hurricane Rita survivors the special mortgage servicing relief policies it announced after Hurricane Katrina to ease the financial pressures on borrowers with Freddie Mac-owned mortgages. The temporary suspension applies to Freddie Mac-owned single-family loans in federally declared disaster areas where FEMA's Individual Assistance programs are being made available. None of these temporary measures will affect Freddie Mac's guarantee on its mortgage participation certificates, the company said. "We are determ...