McLEAN, Va. – There will be a little less Grinch at Freddie Mac this season.
The secondary mortgage market giant last week said that it has “ordered all evictions involving foreclosed occupied single family and 2- to 4-unit properties that had Freddie Mac mortgages to be suspended from Dec. 19, 2011 to Jan. 2, 2012.”
“If the property is occupied, our foreclosure attorneys will suspend the eviction to provide families a greater measure of certainty during the holidays,” said Tracy Mooney, SVP-servicing, in a statement.
Freddie Mac clarified that the suspension of evictions would “apply only to eviction lockouts related to Freddie Mac-owned [repossessed] properties and [would] not affect other pre- or post-foreclosure processes.”
Following the Freddie Mac announcement, Fannie Mae said it also will suspend evictions during the holidays. Both companies reported multi-billion-dollar third-quarter losses and currently are in conservatorship.
