Senate banking committee passes massive regulatory relief bill

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance

It's official: NYDFS Superintendent Ben Lawsky stepping down

4 years as leader of “long reach” New York financial regulator
W S

GSEs set holiday eviction moratorium dates

/ Print / Reprints /
| Share More
/ Text Size+
Fannie Mae and Freddie Mac are suspending evictions of foreclosed single-family residences and two- to four-unit properties from Dec. 19 through Jan. 2, 2012. The government-sponsored enterprises are the first institutions this holiday season to announce their annual moratoriums, which is a common practice in the housing sector to provide families a greater measure of certainty during the holidays. During this period, legal and administrative proceedings for evictions may continue, but families living in foreclosed properties will be permitted to remain in the home. The suspensions apply only to eviction lockouts related to REO properties owned by Fannie Mae and Freddie Mac and will not affect other pre- or post-foreclosure processes. “The holidays are meant for families to spend time together, especially if they’ve gone through the stress of financial challenges and foreclosure,” said Terry Edwards, executive vice president of credit portfolio management at Fannie Mae, in a statement. “No family should have to give up their home during this holiday season," he said. Write to Justin T. Hilley. Follow him on Twitter @JustinHilley.

Recent Articles by Justin Hilley

Comments powered by Disqus