It’s that time of year again. Santa Claus is coming to town, Rudolph’s nose is blinking, and we want to let it snow let it snow let it snow! It’s also time for what’s becoming an annual tradition – a foreclosure moratorium by Fannie, Freddie and banks … a holiday reprieve if you will. From CNN Money,
For homeowners with loans through Fannie Mae and Freddie Mac, the moratorium will run from Dec. 19 to Jan. 2. During this time, legal and administrative proceedings for evictions may continue, but families will be allowed to stay in their homes, Fannie said in a statement.
“No family should have to give up their home during this holiday season,” said Terry Edwards, an executive vice president for Fannie Mae.
In addition, Wells Fargo, Chase, and Bank of America are not kicking out homeowners for several weeks.
Leave a Reply