Foreclosure Freezes on the Way

The Christmas seasons is here and many of the large banks are playing "Santa Clause" by saying they will not evict homeowners during the 2 to 3 week period around Christmas. This comes on top of the moratorium that was caused by the robo-signing banks.

This will make many borrowers happy who are 3 to 6 months behind and were planning on moving out this Christmas. Freddie Mac and Fannie Mae are at the forefront of this freeze and specifically will not be taking anyone's home within the 2 week period around Christmas. Bank of American and Wells Fargo, both criticized for their foreclosure process, will also be halting most foreclosures during Christmas.

Don't be surprised to see an eviction spree following the Holiday Season.

Skylar Lewis
Temecula Homes For Sale
Murrieta Real Estate
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