Fannie Mae has issued a press release annoucing that “it will suspend evictions of foreclosed single family and 2-4 unit properties from December 19, 2012 through January 2, 2013. Legal and administrative proceedings for evictions may continue, but families living in foreclosed properties will be allowed to remain in the home during this period.”
Terry Edwards, Executive Vice President of Credit Portfolio Management, was quoted as saying, “We’re taking this step in support of families who have faced financial challenges and gone through a foreclosure. The holidays are a chance to be with loved ones and we want to relieve some stress at this time of year. We encourage homeowners having difficulty to reach out for help as soon as possible.”
Suspension of foreclosures in areas affected by Hurricane Sandy will continue through February 1, 2013.