Fannie and Freddie postpone foreclosure-based evictions for holidays

Fannie Mae and Freddie Mac announced today that they will suspend foreclosure-based evictions during the Christmas and New Year’s holiday season this year, from Dec. 19 to Jan. 3. In a press release, Fannie Mae president and CEO Michael Williams said that the spirit of Christmas was integral to its decision. “No family should have to face the prospect of being evicted during the holiday season,” Williams said. A release from Freddie Mac echoed this sentiment, noting that the rough economic climate has put greater emphasis on charity during the winter season. “In these extraordinary times, we want to provide a greater measure of certainty to these families during the holidays,” Freddie Mac CEO Ed Haldeman said. The news comes on the heels of Citigroup’s announcement that they will suspend foreclosures for 30 days, from Dec. 18 to Jan. 17.TRD