Alabama Foreclosure: What Is Freddie Mac?
Alabama Foreclosure: What Is Freddie Mac?
Freddie Mac is a name you will run into if you are facing foreclosure or you have been sued for an ejectment after a foreclosure in Alabama.
The name in lawsuits in Alabama is “Federal Home Loan Mortgage Corporation.”
However, other than in a lawsuit you will almost always see this company simply named “Freddie Mac.”
So what does this company do?
It buys up mortgages from companies.
Companies such as Bank of America, Chase, CitiMortgage, Wells Fargo, etc. so that those companies will have money to make more home loans.
Freddie Mac is a corporation.
However, it has some ties to the government and along with Fannie Mae the mis-management or outright fraud will and has cost the US taxpayers (you and me) hundreds of billions of dollars.
Normally you will not deal directly with Freddie Mac.
Instead you will deal with a service such as one of the companies listed above.
But if you have been sued after a foreclosure, it may be Freddie Mac that is suing you.
This company will often put requirements on the mortgage servicer as to when it can and when it can’t modify your loan.
Here’s the bottom line: if you are facing foreclosure in Alabama, learn your options sooner rather than later.
And if you are sued by Freddie Mac, your time is very limited to learn your options to fight back to save your home so act now.
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We’ll gladly discuss your Alabama foreclosure.
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