Both Freddie Mac and Fannie Mae have announced the suspension of eviction lockouts for single-family and two- to four-unit properties for the holiday season. The moratorium will begin December 17 and end January 2.
Fannie Mae said it will allow legal and administrative proceeding for evictions to proceed during the 16-day period, but families will be allowed to remain in the home.
"We believe it is important to extend the timeline of help for struggling borrowers during the holidays," said Jacob Williamson, Vice President of Single-Family Real Estate at Fannie Mae. "We encourage homeowners who may be struggling with their mortgage or facing possible foreclosure to reach out to Fannie Mae or your servicer to get help. We want to help pursue those options whenever possible."
The GSE's said the suspension will apply to eviction lockouts on Freddie Mac real estate owned homes but will not affect other pre-or-post-foreclosure activities. Companies managing local evictions for Freddie Mac may continue to file documentation as needed during the suspension period.
Persons who think they may be affected by these suspensions or eligible for disaster relief from either of the GSEs should contact their servicers or call Fannie Mae or Freddie Mac for more information.