Skip to main content
  1. News
  2. Top News

Fannie Mae and Freddie Mac suspend foreclosure evictions for holidays

See also

As they have done in previous years, Fannie Mae and Freddie Mac announced Friday a two-week moratorium on evictions over the Christmas and New Year's holiday. The mortgage giants will suspend evictions of foreclosed single family and 2-4 unit properties from December 18, 2013 through and including January 3, 2014, according to Terry Edwards of Fannie Mae.

Although legal and administrative proceedings on foreclosure actions may continue through the courts, families living in foreclosed properties will be allowed to remain in the home until after the holidays.

“The holiday season is meant for quality time with family and we want to relieve anyone of the anxiety of leaving their home during this season,” Terry Edwards, Chief Operating Officer for Fannie Mae stated in a prepared release. “We encourage any homeowner who is having difficulty making their mortgage payment to reach out for help right away. Fannie Mae will continue to help borrowers avoid foreclosure whenever possible.”

The eviction and foreclosure lockout suspensions have become a yearly tradition for the two government-sponsored entities since the real estate bust left hundreds of thousands of homeowners facing the loss of a home during the Christmas holidays.

This year, Fannie Mae made it easier for a delinquent borrower to stay in their home when they introduced the Streamlined Modification which is available once someone experiences a hardship that causes them to be 90 days late with their mortgage payment.

Homeowners with Fannie Mae-owned loans may visit www.knowyouroptions.com or call Fannie Mae's Mortgage Help Center at 866-442-8575 for information and resources on foreclosure prevention options.

To find out if Fannie Mae owns your loan, visit www.knowyouroptions.com/loanlookup.

“While I applaud the delay in evictions, the two-week suspension does little to address continuing problems in the foreclosure process itself,” stated Carlos Reyes, a nationally known foreclosure defense attorney from Fort Lauderdale. “All a moratorium does is delay the inevitable.”

*********

Bill Lewis is principal of William E. Lewis Jr. & Associates, a solutions based professional consulting specializing in the discriminating individual, business or governmental entity.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 15,500 plus fans on Facebook at: http://www.facebook.com/thecreditreportwithbilllewis.

Advertisement

News

  • Obama's Asia trip
    President Obama arrives in Asia, though he's not necessarily getting a warm welcome
    Video
    Watch Video
  • Ferry survivors deal with guilt
    The few heroes of the Korean ferry disaster deal with unimaginable survivor's guilt
    World News
  • Biden in Ukraine
    Vice President Biden urges Moscow to avoid further unrest in Ukraine
    Politics
  • Pujols hits 500th home run
    Albert Pujols becomes the latest player to hit 500 home runs in his career
    Camera
    Sports
  • North Korean nuclear test?
    South Korea detects another possible nuclear test from North Korea
    Headlines
  • NYPD's Twitter campaign backfires
    NYPD's campaign designed to amicably engage New Yorkers and cops backfires horribly
    Video
    Watch Video

User login

Log in
Sign in with your email and password. Or reset your password.
Write for us
Interested in becoming an Examiner and sharing your experience and passion? We're always looking for quality writers. Find out more about Examiner.com and apply today!