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GSEs Announce Eviction Moratorium for the Holidays

""Fannie Mae"":http://fanniemae.com/portal/index.html and ""Freddie Mac"":http://www.freddiemac.com/ announced temporary eviction moratoriums on all single-family homes and two-to-four unit properties over the holidays.

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Both companies will enforce the moratorium from December 19 through January 2.

""The holidays are meant for families to spend time together, especially if they've gone through the stress of financial challenges and foreclosure,"" said Terry Edwards, EVP of credit portfolio management at Fannie Mae.

""No family should have to give up their home during this holiday season,"" he said.

The moratorium will not affect the pre- or post-foreclosure processes, the GSEs said in their announcements.

Servicers may continue the administrative processes involved in foreclosures, but evictions will be delayed until after the start of the new year.

""If the property is occupied, our foreclosure attorneys will suspend the eviction to provide families a greater measure of certainty during the holidays,"" said Tracy Mooney, SVP of servicing and REO at Freddie Mac.

About Author: Krista Franks Brock

Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia.
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