Here is some good news that has been shared by the California Association of REALTORS with its members who subscribe to Realegal email notifications.
Fannie Mae and Freddie Mac will suspend foreclosure evictions from December 19, 2009 through January 3, 2010. Both owner occupants and tenants living in properties foreclosed upon by Fannie Mae will not be evicted.
In a similar move, Citigroup will suspend foreclosure sales and evictions for 30 days through January 17, 2010 for loans it owns but not for those it services on behalf or other investors.
These actions may lead to other lenders granting similar forbearance during the holiday season.
It reminds me of Christmas Vacation from school when I was young. I enjoyed the vacation but I know that school would soon start up again. Oh, for the good old days when that was all I had to worry about. It must be terribly difficult to find joy in this season knowing that the efforts to move you out of your home will recommence shortly after the New Year begins. It makes the wish of "Happy New Year" seem pretty hollow.
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