As customary each holiday season, Fannie Mae and Freddie Mac have enacted an eviction lock-out suspension, which applies to all foreclosed homes. The moratorium will be observed Dec. 17, 2018 to Jan. 2, 2019. During this time, administrative and legal proceedings can continue, but homeowners may remain in their homes.
“We believe it is important to extend the timeline of help for struggling borrowers during the holidays,” said Jacob Williamson, vice president of Single-Family Real Estate at Fannie Mae, in a statement. “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.”
“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,” said Yvette Gilmore, vice president of Single-Family Servicer Performance Management at Freddie Mac, in a statement.
For the latest real estate news and trends, bookmark RISMedia.com.