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Several Lenders Stop Foreclosures During the Holidays

Screen shot 2011 12 14 at 3.37.07 PM 300x143 Several Lenders Stop Foreclosures During the HolidaysFannie Mae, Freddie Mac and other lenders have announced that they will stop evictions during the holidays. This “break” will go from mid-December to the beginning of January. Each lender has different dates. Lenders will continue legal and administrative proceedings for evictions, but families won’t have to worry about moving out of their homes during the holidays.

However, keep in mind that these are only for loans owned by the participating lenders. If they are just servicing the loan, and the owner of the loan wants to proceed with the eviction of a delinquent borrower, it may still go through.

It may not be a permanent solution for troubled homeowners, but at least it’s a temporary relief during the holidays.

If you want to learn more, check out this article on CNN Money.

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About Gabriela Islas

Gabriela is addicted to traveling, learning about new cultures and the color pink. Her hidden talent is that she burns everything when cooking- even water. If you ever want to find out what Ricky Ricardo said to Lucy when he was mad, she’s your girl. When she’s not laughing at things her five year-old says, Gabriela loves writing anything about personal finance, economics and international trends.

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