Fannie, Freddie, and several other mortgage lenders have announced that they will take a break from foreclosures on the days right around Christmas and New Years.
This doesn’t mean they are stopping anything entirely, just that they won’t make anyone physically move during those few days around Christmas and New Years. This is surely welcome news for those facing foreclosure, especially those who were getting ready to vacate.
This also might just be an attempt at spinning some positive PR, as many employees will be off for the Holidays and mortgage lenders won’t have the physical manpower to keep foreclosure proceedings moving forward for those few days.
For more info on this CNN Money article, visit: http://money.cnn.com/2011/12/01/real_estate/fannie_mae_foreclosure/index.htm
For more info on real estate in lower Fairfield County, visit: www.ToddTurcotte.com