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Servicing / The Ticker

Fannie Mae and Freddie Mac put evictions on hold for holidays

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Fannie Mae and Freddie Mac said Monday the agencies plan to launch their annual eviction moratoriums, allowing families in foreclosure to remain in their properties during the holiday period.

Fannie Mae's moratorium applies to single-family and 2-to-4 unit properties and runs from Dec. 19, 2012 through Jan. 2, 2013. Freddie Mac's eviction moratorium picks up on Dec. 17 and runs through Jan. 2.

JP Morgan (JPM) will also do the same from December 19 through the New Year.

The moratorium applies only to Fannie Mae and Freddie Mac mortgages.

The evictions come on the heels of relief measures announced for distressed homeowners in the path of Hurricane Sandy.

Fannie Mac previously launched a 90-day foreclosure sale and eviction suspension that will last through Feb. 1, 2013, to help distressed homeowners in disaster areas marked by the federal government after Hurricane Sandy.  

Freddie Mac also granted a separate 90-day eviction suspension for families impacted by Hurricane Sandy.

Click here to read Fannie's press release, and here for Freddie Mac's.

kpanchuk@housingwire.com

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