To help families get through the holiday season without losing their homes, Freddie Mac recently announced it will suspend eviction lock-outs between December 17 and January 2. Homes that will be included are foreclosed occupied single family homes, and 2-4 unit properties that have a Freddie Mac backed mortgage.
"We are instructing our foreclosure attorneys to suspend pending eviction lockouts on foreclosed homes in order to provide a greater measure of certainty to families during the holiday season," said Tracy Mooney, senior vice president of servicing and REO at Freddie Mac.
However, this will only include Freddie Mac-owned REO homes. Those that will not be a part of the suspension are pre- or post-foreclosure homes. Documentation will still be prepared by firms during this period, in order to prepare for evictions scheduled for after January 2.
Additionally, Fannie Mae announced an eviction moratorium for the days between December 19 and January 2. This suspension will apply to the same types of homes that were eligible under Freddie's plan.
Both government-sponsored enterprises recently announced a suspension of foreclosure sales and evictions in Hurricane Sandy disaster areas, which will not be affected by the holiday moratorium.
