Both Freddie Mac and Fannie Mae announced this week that evictions from foreclosed single-family and two-to-four-unit properties owned by the GSEs will be suspended during the holiday season. The moratorium will begin on December 18 and extend through January 2 of next year.
The two companies said that legal and administrative proceedings for evictions can continue during the period as well as other foreclosure-related activities. Families, however, must be allowed to continue living in the homes.
"We're taking steps to support families and to extend the timeline of help for struggling borrowers during the holidays," said Jacob Williamson, Vice President of Single-Family Distressed Assets at Fannie Mae. "We also encourage homeowners who may be struggling with their mortgage to reach out to Fannie Mae or their servicer to get help. Options are available to avoid foreclosure, and we want to help pursue those options whenever possible."
Freddie Mac also reaffirmed that all foreclosure sales have been suspended in eligible disaster areas impacted by Hurricanes Harvey, Irma and Maria.