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.