Fannie Mae and Freddie Mac will suspend the evictions of foreclosed single-family properties during the holiday season, according to the government-sponsored enterprises.
The suspension of evictions will apply to single-family and two-to-four unit properties between December 18 and January 2 for both GSEs. Though legal and administrative proceedings may continue during this time period, families will be allowed to stay in the home.
"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, in a press release.
"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," he continued.
Read more in National Mortgage News.