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Fannie Mae to suspend foreclosure evictions for the holidays

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Fannie Mae will suspend foreclosure evictions from Dec. 20 through Jan. 3, 2011. The government-sponsored enterprise routinely halts the foreclosure process during the holiday season. Fannie currently holds a 4.56% serious delinquency rate on its mortgage portfolio, totaling more than $798 billion worth of loans as of October. "Consistent with our practice in previous years, families will not be evicted from their homes during the holiday season," Fannie Mae said in an e-mailed statement. Freddie Mac made a similar announcement earlier in the month. The two companies recently cleared real estate agents to resume sales of foreclosed homes following a review of the foreclosure process in some states. Write to Jon Prior.

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