Fannie and Freddie Hold Off on Foreclosures for the Holidays

Fannie and Freddie Hold Off on Foreclosures for the Holidays

Posted on 04. Dec, 2012 by in News

Homeowners facing foreclosure will not be evicted from their homes this holiday season announced Freddie Mac and Fannie Mae. The mortgage giants will suspend bank repossessions beginning December 17 and December 19, and evictions will not resume until January 2, 2013.

“The holidays are a chance to be with loved ones and we want to relieve some stress at this time of year,” said Terry Edwards, Executive Vice President of Credit Portfolio Management, Fannie Mae.

According to Freddie spokesman Brad German, the hiatus will not affect other pre- or post-foreclosure activities. Bank of America also plans to suspend foreclosure evictions during the holiday period.

Read More:  http://money.cnn.com/2012/12/03/real_estate/holiday-foreclosure-moratorium/index.html

Be Sociable, Share!

Tags: