Fannie Mae Announces Eviction Moratorium for the Holidays
Fannie Mae (FNMA/OTC) announced today that it will suspend evictions of foreclosed single family properties during the holiday season. From December 17, 2014 through January 2, 2015 families living in foreclosed properties will be allowed to remain in the home, although legal and administrative proceedings for evictions may continue during this period.
“As in previous years, we believe it is important to extend the timeline of help for struggling borrowers during the holidays,” said Joy Cianci, Senior Vice President of Credit Portfolio Management for Fannie Mae. “If you are in trouble or facing foreclosure, reach out to Fannie Mae or your servicer today to get help. There are more options than ever before to avoid foreclosure. We want to help struggling borrowers whenever possible.”
Since 2009, Fannie Mae has completed more than 1.6 million loan workout solutions to help distressed families avoid foreclosure.