MCLEAN, VA–(Marketwired – Dec 12, 2016) – Freddie Mac (OTCQB: FMCC) announced today a nationwide suspension of eviction lock-outs between Dec. 19, 2016 and Jan. 3, 2017. The moratorium applies to all foreclosed, occupied homes owned by Freddie Mac.
“Our announcement today is to help provide families with a greater measure of certainty during the upcoming holiday season. We also want to be sure families experiencing financial hardship are aware of the options available to them. Those who are facing possible foreclosure should reach out to their mortgage servicers and explore the alternatives that are in place to help homeowners year-round,” said Chris Bowden, Senior Vice President of REO at Freddie Mac.
- 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).
About Freddie Mac
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 approximately one in four home borrowers and is the largest source of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog.