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| No Foreclosures Over Holidays |
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| Saturday, 11 December 2010 04:20 |
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Fannie Mae and Freddie Mac are freezing all foreclosure evictions on the mortgage loans they own or back from Dec. 20, 2010 through Jan. 3, 2011. If the property is occupied, they will suspend the eviction to provide greater certainty to families during the holidays. Most of the large banks, including Bank of America, J.P. Morgan Chase, and Wells Fargo, already observe a moratorium through the New Year, unless the foreclosure involves an investor who chooses not to observe the holiday policy. We saw a similar trend last year which resulted in a record high foreclosure month in March of 2010. We will have to wait and see if this holiday break has the same impact next year. |
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Resource Center Blog No Foreclosures Over Holidays
Resource Center Blog No Foreclosures Over Holidays