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.
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Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.