December 10, 2015
Fannie Mae Announces Eviction Moratorium for the Holidays
WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today that it will suspend evictions of foreclosed single-family properties during the holiday season. The suspension of evictions will apply to single-family and 2-4 unit properties from December 18, 2015 through January 3, 2016. During this period, legal and administrative proceedings for evictions may continue, but families will be allowed to remain in the home.
“As we have done in past years, we are suspending evictions during the holidays,” said Joy Cianci, Senior Vice President of Credit Portfolio Management for Fannie Mae. “We also continue to remind homeowners who may be struggling with their mortgages to reach out for help. Options are available to avoid foreclosure, and we want to help pursue those options whenever possible.”
Homeowners can visit www.knowyouroptions.com for resources on how to prevent foreclosure, including how to find out if Fannie Mae owns their loan. Homeowners can also contact Fannie Mae at 1-800-7FANNIE for more information.
MCLEAN, VA–(Marketwired – Dec 10, 2015) – Freddie Mac (OTCQB: FMCC) today announced a nationwide suspension of eviction lock-outs between December 18, 2015, and January 3, 2016. The moratorium applies to all foreclosed occupied single family homes and 2-4 unit properties that had Freddie Mac owned-or guaranteed mortgages.
Freddie Mac Quote:
Attribute to Chris Bowden, Senior Vice President of REO at Freddie Mac.
“Today’s announcement is intended to provide a greater measure of certainty to families during the upcoming holiday season. We also strongly urge homeowners who are facing financial challenges and possible foreclosures to explore Freddie Mac’s workout options with their mortgage servicers. They do help and have prevented more than 1.1 million foreclosures since 2009.”
- The holiday suspension will apply to eviction lockouts on Freddie Mac-owned REO homes but will not affect other pre- or post-foreclosure activities.
- Companies managing local evictions for Freddie Mac may continue to file documentation as needed during the suspension period.
- Freddie Mac has helped more than 1.1 million financially troubled borrowers avoid foreclosure. For more information on Freddie Mac mortgage relief, visit My Home by Freddie Mac(SM).
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.
Source: http://www.fanniemae.com | http://freddiemac.mwnewsroom.com