Monday, December 6, 2010

Clarification: Fannie Mae and Freddie Mac have NOT frozen foreclosures for the holidays...

So, if you are facing foreclosure this holiday season and read the just the title of the CNN article "Foreclosure Freeze Coming for the Holidays" you might think that the foreclosure of your home has been postponed until after the holidays. This is not true, and shame on CNN for the misleading title of that article!

If you actually read the content of the article, you will see that they report that Fannie Mae and Freddie Mac are planning not to EVICT occupants of foreclosed homes over the holdiays - from December 20th - January 3rd. So - the scheduled foreclosures will still take place unless postponed for other reasons (and don't wait until the last minute to list your house as a short sale or make that postponement request!)...but the removal of the tenants or former owners of the house will not take place during that time frame.

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