MCLEAN, VA--(Marketwired - Dec 10, 2015) - Freddie Mac (OTCQB: FMCC) today announced a nationwide suspension of eviction lock-outs between December 18, 2015, and January 3, 2016. The moratorium applies to all foreclosed occupied single family homes and 2-4 unit properties that had Freddie Mac owned-or guaranteed mortgages.
Freddie Mac Quote:
Attribute to Chris Bowden, Senior Vice President of REO at Freddie Mac.
"Today's announcement is intended to provide a greater measure of certainty to families during the upcoming holiday season. 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."
News Facts:
- The holiday suspension will apply to eviction lockouts on Freddie Mac-owned REO homes but will not affect other pre- or post-foreclosure activities.
- Companies managing local evictions for Freddie Mac may continue to file documentation as needed during the suspension period.
- Freddie Mac has helped more than 1.1 million financially troubled borrowers avoid foreclosure. For more information on Freddie Mac mortgage relief, visit My Home by Freddie Mac(SM).
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. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.
The financial and other information contained in the documents that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac does not undertake an obligation, and disclaims any duty, to update any of the information in those documents. Freddie Mac's future performance, including financial performance, is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the company's future results are discussed more fully in our reports filed with the SEC.