Categorized | Foreclosures

Some foreclosures suspended for holidays

Posted on 22 December 2009 by Aaron Hofmann

Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures and evictions for about two weeks in a temporary break for borrowers during the holiday season.

The suspension, announced last week by the government-controlled companies, runs from Saturday through January 3rd.

Earlier Thursday, Citigroup Inc. announced a 30-day suspension of foreclosures and evictions, affecting about 4,000 borrowers. Fannie and Freddie did not estimate how many homeowners would get this grace period.

While these announcements are nice, it actually affects very few people and is viewed more as  publicity stunt as these are not real solutions, just temporary suspensions for the holidays.

Leave a Reply

CommentLuv badge

Sign Up for Our Newsletter

Name:
Email:
We value privacy and your details will be kept private.  You may unsubscribe from this newsletter at any time.


Featured Video

Advertise Here
Advertise Here