Mortgage companies are beginning to step up and offer some relief to homeowners whose livelihood has been impacted by the BP oil spill off the coast of the Gulf of Mexico. Fannie Mae has issued an announcement suggesting its servicers immediately suspend or reduce mortgage payments for borrowers whose properties or income have been affected by the spill. CitiMortgage is suspending foreclosures and REO evictions in coastal areas of the Gulf until September 17.
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