Freddie, Fannie halt evictions for the holiday

  It is never a good time to lose your home to foreclosure, but it is especially traumatic around the holidays. In the spirit of the season, Fannie and Freddie announced they will be suspending evictions of single-family and 2- to 4-unit properties between Dec. 19 and Jan. 2. “If the property is occupied, attorneys will suspend the eviction to provide families a greater measure of certainty during the holidays,” said Tracy Mooney, senior vice president of servicing and REO at Freddie Mac, in a news release. But that doesn’t mean all foreclosure operations are shutting down. The suspension applies only to eviction lockouts on properties owned by Freddie and Fannie. Other pre- and post-foreclosure processes will go on as usual. According to RealtyTrac , about 89,000 foreclosure auctions happen every month, so while the moratorium could affect tens of thousands of homeowners, without a true Holiday Miracle, it will be business as usual come January . This Week’s Real Estate Insight: If you or someone you know is facing foreclosure be proactive: Contact your lender as soon as you foresee trouble. Be persistent: Keep notes of whom you spoke to and when, along with contact numbers. Pay your mortgage and utility bills before credit card and department store bills and if all else fails, consider filing for a Chapter 13 bankruptcy.