Foreclosure Evictions on Hold for the Holidays

December 10, 2014 Posted by kingcade

Homeowners in danger of losing their homes are getting an early Christmas present this year from Fannie Mae and Freddie Mac.   The two mortgage giants are putting a temporary hold on all foreclosure-related evictions between December 17 and January 2, 2015.

While evictions will come to halt during this period, all legal and administrative proceedings will continue, including filing notices of default and scheduling auction sales.  If a foreclosure sale is completed during this time, families will not be forced to leave their homes until after January 2, 2015.

JPMorgan Chase said it will also hold off on evictions until after the holidays.  In the past, Citibank, Wells Fargo, Bank of America and other big mortgage lenders have also followed suit.   These banks have yet to announce anything for this year.

Click here to read more on this story.

http://money.cnn.com/2014/12/09/real_estate/christmas-eviction-moratorium/

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