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McLean, VA – Freddie Mac (OTC: FMCC) today announced it has ordered all evictions involving foreclosed occupied single family and 2-4 unit properties that had Freddie Mac mortgages to be suspended from December 20, 2010 to January 3, 2011.
"If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays," said Anthony Renzi, Executive Vice President of Single Family Portfolio Management at Freddie Mac.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.
Just makes you wanna belt out "Silent Night" don't it? No hangings on Memorial Day, too, notes a banker who reads...
Originally posted by Agent_USA_Supporter
Somehow today the markets are up
Great Atlantic & Pacific Tea Co. /quotes/comstock/13*!gap/quotes/nls/gap (GAP 0.93, -1.90, -67.10%) , known as A&P, announced Sunday in New Jersey that it has filed for Chapter 11 bankruptcy in a move to facilitate its financial and operational restructuring. The grocery chain, which operates 395 stores in the U.S.
Supermarket News ranked A&P № 19 in the 2010 "Top 75 Food Retailers and Wholesalers" based on 2009 fiscal year estimated sales of $9.1 billion. Based on 2009 revenue, A&P is the 34th largest retailer in the United States.
You said it best OneFox2010. "Smart Rich People". There's a reason some people are rich. It's because they are smart. I'm trying very hard to be smarter. Are you going to get smarter or are you or are you just gonna bitch and complain like the rest of the common folk? Read more: www.cbc.ca...#ixzz19CEennCU
People still don't have Jobs, Funny Rich people coming on here telling everyone that everything is going to be fine, yet i don't see that happening. Next Year will be alot worse, even last year the markets were up because of the holiday season it happens. Maybe these smart rich folks here could explain where is the economy recovery? Read more: www.cbc.ca...#ixzz19CEjS8pQ
China's PBOC's Christmas rate rise to weigh on commods at open
SINGAPORE (Reuters) – The surprise timing of the People's Bank of China (PBOC) increase in benchmark lending and deposit interest rates is likely to weigh on commodity markets when trading starts on Monday.
On Christmas Day, the PBOC raised rates by 25 basis points, the second rate rise in just over two months, part of a series of measures designed to combat inflation which hit a 28-month high of 5.1 percent in November.
The opportunity to cash in on prices at or near their highest in years before the year end could mean the correction this time may be greater than the losses following the last interest rate hike in October.
Ireland Seizes Allied Irish, Fourth Bank Nationalized
Ireland’s High Court said Allied Irish Banks Plc can be taken over by the government without shareholder approval as the lender became the fourth bank to fall under state control since 2008.
Finance Minister Brian Lenihan secured approval from the Dublin-based court today to inject 3.7 billion euros ($4.8 billion) into the lender by Dec. 31 and raise its stake to 92 percent from 19 percent, the Finance Ministry said in a statement. Allied Irish, Ireland’s largest company by market value in 2007, recorded its biggest share price drop in 22 months in Dublin trading. Valued at almost 21 billion euros at its peak, the bank’s market capitalization today was 347 million euros.
“We wouldn’t have had Allied Irish Banks on the 1st of January if this investment wasn’t made,” Lenihan said in an interview with Dublin-based broadcaster RTE Radio after the ruling.