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A holiday break: Lenders suspend foreclosure evictions

December 5, 2012 @ 7:48 am

Mortgage giants Fannie Mae and Freddie Mac announced that they will temporarily halt all bank repossessions and evictions beginning in mid-December until January 2, 2013.

The temporary foreclosure suspension goes into effect beginning December 17. The moratorium will not affect the filing notices of default or the scheduling of auction sales.

"The holidays are a chance to be with loved ones and we want to relieve some stress at this time of year," said Terry Edwards, executive vice president of credit portfolio management, Fannie Mae.

Bank of America also recently announced that it is halting foreclosure evictions for the holidays for loans it owns and for those it services for investors. JPMorgan Chase, Wells Fargo, and Citibank have yet to release a statement on whether they'll follow suit, although they have done so in the past for the holidays.

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Comments (2)


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  • SickofSeattleite wrote...
    ohh how thoughtful
    December 6, 2012 5:55 am
    isn't it their fault the market got swollen and crashed in the first place? Seems like Fanny should have to bear more of the burden than the homeowners. Fanny has the Govt to hold their hand and protect them. The American people get screwed yet again. The govt was the ones that told fanny and the other banks to loan to people. This is the GOVT problem and now the homeowners are screwed because the Govt got involved in something it should have not been involved in. Another great example of Govt meddling is Obamacare, reckless spending, bailouts and extending unemployment benefits past what people have paid in. They are literally giving money away we do not have. How can anyone support this?
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  • Realitycheck wrote...
    Agreed
    December 8, 2012 9:29 pm
    Anybody still doing business with a bank is supporting these crooks. If you want to tell banks this was unacceptable how they screwed the American people you need to get off your lazy behind and take away your business. We do it in large enough numbers they will get the message. Otherwise get ready to go through this again in 5 more years.
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