Fannie Mae and Freddie Mac have decided to halt evictions for families during the holiday day. Families on the verge of eviction will not have to vacate their homes from December 17, 2018 to January 2, 2019, according to a recent report.
“We believe it is important to extend the timeline of help for struggling borrowers during the holidays,” said Jacob Williamson, Fannie Mae vice president of single-family real estate, according to HousingWire.
“We encourage homeowners who may be struggling with their mortgage or facing possible foreclosure to reach out to Fannie Mae or your servicer to get help. We want to help pursue those options whenever possible.”
Both companies have suspended evictions during the holiday season in the past and looks to continue the trend once again.
"But while the GSEs are suspending evictions during the holiday season, the suspension will not affect other pre- or post-foreclosure activities," according to the report.
"Companies managing local evictions for the GSEs can continue to file documentation and legal and administrative proceedings will continue during the suspension period."
To read more about Fannie and Freddie's decision, click on the image above.