No Foreclosures for the Holidays

Both giant sibling mortgage companies, Fannie Mae and Freddie Mac, have just announced that they will be suspending evictions induced by foreclosures for all single family and 2-4 unit resident properties from December 19, 2011 to January 2, 2012. According to a Freddie Mac, these suspensions only apply to repossessed properties and will not be affecting properties in the pre- or post-foreclosure process. The suspension is said to give families a strong level of certainty and show both Fannie and Freddie's dedication to encouraging borrowers to seek help during times of financial struggle that may lead to foreclosure.