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Fannie Mae Places a Hold on Holiday Foreclosures

Mortgage News > Fannie Mae Places a Hold on Holiday Foreclosures
Date: 12/03/2012     Fannie Mae Places a Hold on Holiday Foreclosures

It was announced today that Fannie Mae will hold off on evicting families have been foreclosed on between December 19, 2012 and January 2, 2013.  Families in single family residences and 2-4 unit properties will be able to stay in their homes through the holidays.
 
Families will still be given foreclosure notices and proceedings will still move forward.
 
Terry Edwards, Executive Vice President of Credit Portfolio Management at Fannie Mae, said on the matter, "We\'re taking this step in support of families who have faced financial challenges and gone through a foreclosure. The holidays are a chance to be with loved ones and we want to relieve some stress at this time of year.  We encourage homeowners having difficulty to reach out for help as soon as possible."
 

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