Mortgage

Fannie Mae begins eviction moratorium next week

Temporary halt for the holidays

Fannie Mae will begin its yearly eviction moratorium on December 18.

The eviction process will resume on January 3.

Most mortgage firms with servicing operations institute such a moratorium for the holidays, though Fannie Mae is the first to announce.

It is important to note that administrative proceedings still continue, though families are just allowed to remain in their home.

Terry Edwards, Chief Operating Officer for Fannie Mae said families should be aware of this and hopes the moratorium will help to relieve any anxiety felt by the homeowners.

"We encourage any homeowner who is having difficulty making their mortgage payment to reach out for help right away," Edwards said in a statement. "Fannie Mae will continue to help borrowers avoid foreclosure whenever possible."

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