Fannie Mae and Freddie Mac Suspend Foreclosure Evictions Through New Year
Fannie Mae and Freddie Mac typically suspend foreclosure evictions every year over the holiday season. The dates during which these evictions are suspended are December 18, 2015 through January 3, 2016.
Homeowners are encouraged to explore loan modifications as an alternative to foreclosure. “Today’s announcement is intended to provide a greater measure of certainty to families during the upcoming holiday season,” said Chris Bowden, SVP of REO at Freddie Mac. “We also strongly urge homeowners who are facing financial challenges and possible foreclosures to explore Freddie Mac’s workout options with their mortgage servicers. They do help and have prevented more than 1.1 million foreclosures since 2009.”
Homeowners whose homes were already foreclosed may also be able to raise claims for wrongful foreclosure to attempt to void the sale. This may sometimes be done if various pre-foreclosure notices are deficient, such as notices under Massachusetts General Laws chapter 244, section 35A, or the notice required under Paragraph 22 of the mortgage. Homeowners might also challenge a foreclosure if they were under review for a loan modification at the time of the sale.
Our office has successfully brought cases against major banks including Bank of America, Wells Fargo, Nationstar, and many, many others, related to these issues.
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