Fannie Mae, Freddie Mac ease up on evictions over the holidays |

Fannie Mae, Freddie Mac ease up on evictions over the holidays

Ryan Brinks 13 December 2017 NEWS

No evictions over the holidays for Fannie Mae and Freddie Mac

Residents of recently foreclosed homes will get a break from being kicked out over the holidays.

The ongoing tradition of halting foreclosure evictions over the holidays will continue again this year thanks to new eviction moratoriums by Fannie Mae and Freddie Mac, the government-backed associations that buy housing assets like mortgages from lenders across the country.

From December 18 to January 2, no one with a foreclosed mortgage owned by Fannie Mae or Freddie Mac will be evicted from their home. The Fannie Mae moratorium applies to occupants of single-family or two- to four-unit multifamily properties. It’s not always obvious whether a mortgage is owned by one of the associations – they own trillions of dollars worth of homes – because the original lender may still service the loan payments. Discover if they own your mortgage using the Fannie Mae Loan Lookup and Freddie Mac Loan Look-Up Tool.

“We’re taking steps to support families and to extend the timeline of help for struggling borrowers during the holidays,” Fannie Mae vice president of single-family distressed assets Jacob Williamson said.

Despite plunging mortgage delinquency rates, outside factors like natural disasters or job losses still create housing crises for millions of Americans. Freddie Mac will also not foreclose on homeowners who are behind on their mortgage payments in disaster areas hit by Hurricanes Harvey, Irma and Maria.

Meanwhile, the eviction moratoriums will not halt the legal paperwork that accompanies the foreclosure process. Documentation can continue to be filed, but families will not be asked to move out.

If other debts are keeping you from making monthly mortgage payments, consider consolidating them to reduce your minimum payments or cut your interest costs. New providers are continually popping up, so it pays to compare debt consolidation options.

Additionally, millennials are taking advantage of low interest rates to refinance their home loans in record numbers.

Latest news headlines

Picture: Shutterstock

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site