In an effort to give families in foreclosure a better sense of security, Fannie Mae and Freddie Mac are postponing the eviction process this holiday season. Fannie Mae will not evict families from December 19 through January 2 and Freddie Mac will stop evictions from December 19 – January 3. If you are in foreclosure, it is important to understand what this moratorium means.
First and most importantly, do not read too much into this news because these 2 government-sponsored enterprises make this sort of announcement every year. Halting evictions for the holiday season is nothing new. In fact, legal and administrative work for evictions will be permitted to continue in both Fannie Mae and Freddie Mac.
So, if you are in foreclosure or about to face the eviction process, make sure you are taking the necessary steps to get your problems resolved and stay in your home. The recent announcement from Fannie Mae and Freddie Mac might sound like a reason to think your foreclosure issues are on hold; but, just because Fannie Mae and Freddie Mac won’t evict you on Christmas, doesn’t mean they’re not getting everything ready to evict you in January.