MCLEAN, Va., Dec. 3, 2012 /PRNewswire/ — Freddie Mac (OTC: FMCC) today announced it is suspending evictions nationwide between December 17, 2012 and January 2, 2013 on foreclosed occupied single family homes, and 2-4 unit properties, that had Freddie Mac mortgages. This is in addition to the previous announcement suspending evictions in eligible major disaster areas caused by Hurricane Sandy.
News Quote: Attribute to Tracy Mooney, Senior Vice President of Servicing and REO at Freddie Mac.
“We are instructing our foreclosure attorneys to suspend pending eviction lockouts on foreclosed homes in order to provide a greater measure of certainty to families during the holiday season.”
- The two-week holiday suspension will only apply to eviction lockouts on Freddie Mac-owned REO homes and will not affect other pre- or post-foreclosure processes.
- Although no evictions will take place, firms handling local evictions for Freddie Mac will continue to file documentation in preparation for evictions, scheduled after January 2, 2013.
- Today’s announcement is separate from the 90-day eviction suspensions in eligible Hurricane Sandy disaster areas, which continue through February 2013.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com.
SOURCE Freddie Mac