Homeowners facing foreclosure just received an early Christmas present: They won't be evicted from their homes over the holidays.
Mortgage giants Fannie Mae and Freddie Mac announced Monday that they will temporarily halt all bank repossessions and evictions beginning in mid-December until Jan. 2, 2013.
The temporary foreclosure suspension goes into effect beginning Dec. 17 and Dec. 19, respectively. 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,' says Terry Edwards, Executive Vice President of Credit Portfolio Management, Fannie Mae. Read what other banks are not foreclosing either....
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