Fannie, Freddie’s Holiday Gift: No Foreclosures
December 11, 2018
Mortgage financing giants Fannie Mae and Freddie Mac announced a nationwide suspension of eviction lockouts on foreclosures for the holiday season. The foreclosure moratorium will last from Dec. 17 to Jan. 2, 2019, and applies to all foreclosed occupied homes owned by Fannie Mae and Freddie Mac.
“As we have done in past years, we are suspending evictions from Freddie Mac-owned homes to help provide families with a greater measure of certainty during the upcoming holiday season,” says Yvette Gilmore, Freddie Mac’s vice president of single-family servicer performance management.
The moratorium, however, does not apply to other pre- or post-foreclosure activities. Legal and administrative proceedings for evictions can continue, but families will be able to remain in their home during the holiday moratorium.
“We believe it is important to extend the timeline of help for struggling borrowers during the holidays,” says Jacob Williamson, vice president of single-family real estate at Fannie Mae. “We encourage homeowners who may be struggling with their mortgage or facing possible foreclosure to reach out to Fannie Mae or your servicer to get help. We want to help pursue those options whenever possible.”
Updated: January 15, 2019