Saturday
January 20, 2018

Mortgage Giants: No Evictions for the Holidays

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Mortgage Giants: No Evictions for the Holidays

Fannie Mae and Freddie Mac announced a nationwide suspension of evictions on foreclosed single-family homes during the holiday season, between Dec. 18 to Jan. 2. The moratorium applies to all foreclosed, occupied homes owned by Freddie Mac or Fannie Mae.

Legal and administrative proceedings for evictions may continue, but families will be allowed to stay in their home over the holidays.

“As we have done in past years, we are suspending evictions over the holidays,” says Yvette Gilmore, Freddie Mac’s vice president of single-family servicer performance management. “For borrowers who may be experiencing financial challenges we strongly urge them to contact their mortgage servicer to explore one of the Freddie Mac workout options.”

Freddie Mac also confirmed that it has suspended all foreclosure sales in disaster areas impacted by Hurricanes Harvey, Irma, and Maria.

Homeowners who are unable to keep up with their mortgage payments can check options at Fannie Mae’s www.knowyouroptions.com or through My Home by Freddie Mac.

Source: Freddie Mac and Fannie Mae