Freddie Mac will suspend foreclosure evictions from Dec. 20 to Jan. 3, 2011, the company announced Wednesday.
Freddie Mac's mortgage portfolio stands at $39.6 billion as of October, according to its monthly summary report. Its serious delinquency rate stood at 3.82% in October as well.
The eviction suspension will apply to any occupied single-family and two-to-four unit properties.
"If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays," said Anthony Renzi, executive vice president of single-family portfolio management at Freddie Mac.
The company recently cleared real estate agents to resume sales of foreclosed homes following a review of the foreclosure process in some states.
Since the start of the foreclosure crisis, many lenders and the government-sponsored enterprises have implemented eviction moratoria during the holiday season.
This article can be found at: http://www.housingwire.com/2010/12/01/freddie-mac-to-suspend-foreclosure...
Freddie Mac will suspend foreclosure evictions from Dec. 20 to Jan. 3, 2011, the company announced Wednesday.
Freddie Mac's mortgage portfolio stands at $39.6 billion as of October, according to its monthly summary report. Its serious delinquency rate stood at 3.82% in October as well.
The eviction suspension will apply to any occupied single-family and two-to-four unit properties.
"If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays," said Anthony Renzi, executive vice president of single-family portfolio management at Freddie Mac.
The company recently cleared real estate agents to resume sales of foreclosed homes following a review of the foreclosure process in some states.
Since the start of the foreclosure crisis, many lenders and the government-sponsored enterprises have implemented eviction moratoria during the holiday season.