GSEs Suspend Foreclosure Evictions Through Jan. 3

Posted by Orb Staff on December 18, 2009 No Comments
Categories : Mortgage Servicing

Fannie Mae and Freddie Mac have each suspended foreclosure evictions through Jan. 3, 2010. All owner-occupants and tenants living in the foreclosed properties that the companies hold will not be subject to evictions during the holiday time frame.

‘If the property is occupied, our attorneys will halt the eviction during this holiday moratorium,’ says Freddie Mac CEO Ed Haldeman. ‘In these extraordinary times, we want to provide a greater measure of certainty to these families during the holidays.’

‘We're taking this step in support of struggling families who have, unfortunately, found themselves facing foreclosure,’ adds Michael J. Williams, Fannie Mae's president and CEO. ‘No family should have to face the prospect of being evicted during the holiday season.’

SOURCES: Fannie Mae, Freddie Mac

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