Wednesday, December 1, 2010
Foreclosure evictions go on holiday hiatus
Fannie Mae and Freddie Mac announced they will halt foreclosure evictions during the holiday season, between Dec. 20 and Jan. 3. The move will not include a moratorium on court proceedings involving foreclosures, but will at least allow people to stay in their homes through the holidays, according to the Palm Beach Post. "Consistent with our practice in previous years, families will not be evicted from their homes during the holiday season," Fannie spokesperson Amy Bonitatibus said yesterday. Freddie Mac made its announcement this morning. "If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays," said Anthony Renzi, executive vice president of Single Family Portfolio Management at Freddie Mac. CitiMortgage said yesterday it does not plan to do a foreclosure moratorium this holiday season, although it did stop foreclosures sales and foreclosure notifications last year between Dec. 18 and Jan. 17.