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GSEs Announce Annual Foreclosure Moratorium

In what has become an annual tradition, the government-sponsored enterprises are suspending foreclosure evictions during the holiday season.

The Federal National Mortgage Association issued a statement Monday indicating it will suspend evictions from Dec. 19 through Jan. 2, 2017.

According to Fannie Mae, the moratorium applies to foreclosures on loans that are secured by single-family and two-to-four-unit properties.

“During this period, legal and administrative proceedings for evictions may continue, but families will be allowed to remain in the home,” the Washington-based company stated.

A similar statement was also issued today by the Federal Home Loan Mortgage Corp. for the same period.

The McLean, Virginia-based firm noted that the suspension applies to
eviction lockouts on Freddie Mac-owned real-estate-owned properties — though other pre- or post-foreclosure activities are not impacted.

“Companies managing local evictions for Freddie Mac may continue to file documentation as needed during the suspension period,” Freddie said.

The two secondary mortgage lenders first began
suspending evictions in December 2009.

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