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Freddie Mac Suspends Evictions During Holiday Season

""Freddie Mac"":http://www.freddiemac.com said Wednesday that it has ordered all foreclosure evictions involving occupied single-family and 2-4 unit properties to be suspended from December 20, 2010 to January 3, 2011. The policy applies to all homes with Freddie Mac mortgages.
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""If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays,"" said Anthony Renzi, EVP of single-family portfolio management at Freddie Mac.

It's become a common practice for lenders to temporarily halt evictions during the holiday season. Freddie Mac is the first to officially announce the good tidings. Fannie Mae and most other large mortgage providers are expected to follow suit.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability, and affordability to the nation's residential mortgage markets.

Over the years, the GSE says it has made home possible for one in six homebuyers and more than five million renters.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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