Fannie and Freddie to Suspend Foreclosure Evictions for the Holidays

by admin

Freddie Mac and Fannie Mae, the two government-controlled mortgage entities, have announced that they will freeze all foreclosure evictions on mortgage loans they own or back from Dec. 20, 2010 through Jan.3, 2011.

Home in foreclosure

Photo by Todd Bigelow

“If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays,” says Anthony Renzi, executive vice president of single family portfolio management at Freddie Mac.

Bank of America is also freezing evictions for the holiday season, and other lenders may end up following suit.

***Tell us what you think about this move below. Is it an effort to help homeowners enjoy the holidays before the inevitable occurs, or are banks just trying not to look like the bad guys?***

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