WASHINGTON, December 1, 2011 /PRNewswire/ --
Fannie Mae (OTC Bulletin Board: FNMA) announced today that it will suspend evictions of foreclosed single family and 2-4 unit properties from December 19th, 2011 through January 2nd, 2012. During this period, legal and administrative proceedings for evictions may continue, but families living in foreclosed properties will be permitted to remain in the home.
"The holidays are meant for families to spend time together, especially if they've gone through the stress of financial challenges and foreclosure," said Terry Edwards, Executive Vice President of Credit Portfolio Management, Fannie Mae. "No family should have to give up their home during this holiday season. Fannie Mae is committed to helping borrowers avoid foreclosure whenever possible and we encourage any homeowner who is having difficulty making their payment to reach out for help."
Homeowners with Fannie Mae-backed loans can call 1-800-7FANNIE or visit http://www.knowyouroptions.com for information and resources on foreclosure prevention options, including contact information for the Fannie Mae Mortgage Help Center or a HUD-approved counseling agency in their area.
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
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SOURCE Fannie Mae