No Foreclosures Over the Holidays
Fannie Mae and Freddie Mac are freezing all foreclosure evictions on the mortgage loans they own or back from
Dec. 20 through Jan. 3.
“If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays,” says Anthony Renzi, executive vice president of single family portfolio management at Freddie Mac.
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.
Source: CNNMoney, Les Christie (12/03/2010)
Too bad about Jewish families and those of other faiths, I guess they don’t rate. Good news, they covered Kwanzaa.
Wow, Fannie and Freddie are now government agencies, I am surprised no one is turning a buck pretending to be upset about the establishment clause on this one.
I guess while they want to seem compassionate to the residents, the real point is that we don’t want the Christian foreclosure attorneys to feel bad given the Christmas story and all.
