Eviction of families on vacant properties of Freddie Mac and Fannie Mae halted during holidays


Nation: Following Fannie Mae and Freddie Mac “holiday spirit” decisions undertaken for vacant properties in past years, the foreclosed properties for those companies will have eviction lockouts suspended from tomorrow, Dec. 17, to Jan. 2, 2015. Handlers of accounts for the companies can continue to file pertinent paperwork during the suspension, as appropriate.


“As in previous years, we believe it is important to extend the timeline of help for struggling borrowers during the holidays," said Joy Cianci, Senior Vice President of Credit Portfolio Management for Fannie Mae. "If you are in trouble or facing foreclosure, reach out to Fannie Mae or your servicer today to get help. There are more options than ever before to avoid foreclosure. We want to help struggling borrowers whenever possible."


"Today's announcement will bring some holiday relief to borrowers who went through foreclosure and were preparing to move,” said Chris Bowden, Senior Vice President of REO at Freddie Mac. “We strongly urge homeowners with financial challenges to start the New Year by calling their mortgage servicer to explore one of the Freddie Mac workout options that have prevented over one million foreclosures since 2009."


Though families will be allowed to stay in the homes, other pre-foreclosure and post-foreclosure actions undertaken by the company’s respective handlers of properties, most legal aspects will continue to be applicable and undertaken.



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