Mortgage financing giants Fannie Mae and Freddie Mac announced they will suspend foreclosure evictions during the holiday season. The holiday moratorium, which the government-sponsored enterprises have done for the last few years, will begin Dec. 18 and run until Jan. 3, 2016.
During that time, Fannie Mae and Freddie Mac say they will not conduct any eviction lockouts and allow families to remain in their homes during the holidays. However, legal and administrative proceedings for evictions will continue during that time, but families will be permitted to stay in their homes.
The moratorium will apply to all foreclosed, occupied single-family homes as well as 2-4 unit properties on which Freddie Mac or Fannie Mae guarantees or owns the mortgages.
“As we have done in past years, we are suspending evictions during the holidays,” says Joy Cianci, senior vice president of credit portfolio management for Fannie Mae. “We also continue to remind home owners who may be struggling with their mortgages to reach out for help. Options are available to avoid foreclosure, and we want to help pursue those options whenever possible.”
Source: “Fannie Mae, Freddie Mac Suspend Foreclosure Evictions During Holidays,” HousingWire (Dec. 10, 2015)