MCLEAN, VA--(Marketwired - Dec 12, 2013) - Freddie Mac (OTCQB: FMCC) today announced a nationwide suspension of eviction lock-outs between December 18, 2013 and January 3, 2014. The moratorium applies to all foreclosed occupied single family homes and 2-4 unit properties that had Freddie Mac owned-or guaranteed mortgages.
Attribute to Chris Bowden, Senior Vice President of REO at Freddie Mac.
"At this time of year we want to bring some relief to families who confronted financial difficulties and went through foreclosure. We also want to remind homeowners going into the New Year facing financial challenges to reach out for help as soon as they can by calling their mortgage servicer."
- The two-week holiday suspension will apply to eviction lockouts on Freddie Mac-owned REO homes but will not affect other pre- or post-foreclosure activities.
- Although no evictions will take place, firms handling local evictions for Freddie Mac may continue to file documentation in preparation for evictions scheduled after the suspension ends in January 2014.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com.