Was just reading this this morning. Really makes me wonder if it's a Christmas "gift" to tenants during the Christmas season, or a political maneuver of some sort. Has anyone experienced them doing this in the past? Is Fannie going to join in too?
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Freddie Mac announced it has ordered all evictions involving foreclosed occupied single family and 2-4 unit properties that had Freddie Mac mortgages to be suspended from December 19, 2011 to January 2, 2012.
“If the property is occupied, our foreclosure attorneys will suspend the eviction to provide families a greater measure of certainty during the holidays,” said Tracy Mooney, Senior Vice President of Servicing and REO at Freddie Mac.
The suspension will apply only to eviction lockouts related to Freddie Mac-owned REO properties and will not affect other pre- or post-foreclosure processes.
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. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.
SOURCE Freddie Mac
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Nathan is a member of Rentec Direct who provides rental software, tenant ach payment processing, and tenant screening for property managers and landlords nationwide.
As you may or may not recall, depending on how close-knit you are within CPA circles, there was a significant new tax consequence and reporting requirement introduced for landlords within the Small Business Jobs Act and the healthcare reform bill passed in 2010.
