As announced here a few days ago, Fannie Mae has broadened its foreclosure forbearance for the unemployed. The official guidelines from Fannie to the servicers have now been issued and are in effect. Basically, these allow up to 6 months forbearance for defaulted homeowners missing payments due to job loss. No prior approval from Fannie is necessary for these cases. In cases exceeding the 6 month time frame, up to a total of one year is possible with prior Fannie approval. If you have, or think you have, a loan from Fannie Mae, and you're out of work, call your servicer IMMEDIATELY!
Good Luck!
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