Lending Giants Stall Foreclosures During the Holidays

Homes.com

Everyone seems to be in the giving spirit this holiday season — even lending giants Freddie Mac and Fannie Mae. According to AGBeat, these lenders have elected to freeze foreclosures and halt evictions throughout the holiday season. The freeze started yesterday and will go through the first of the year.

It applies to all single-family properties as well as apartment complexes that contain at least four units that are financed by a mortgage through one of these companies.

This will give struggling families a little bit of a break. They’ll be able to focus on their family and friends during this stressful, but equally cheerful, season, instead of the financial hardships they are currently experiencing. However, the “behind-the-scenes” actions of the foreclosure process — document filing, etc. — will still go on and the new year will come swiftly, bringing the harsh reality along with it. But for now, struggling homeowners can bask in the joy and peace of a very-real and much-needed “Silent Night”.

How are you spreading holiday cheer with your clients this season? 

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