Mortgage servicers such as Fannie Mae, Freddie Mac, and other large home loan companies are spreading some Christmas love by pledging not to foreclosure and evict delinquent homeowners during Christmas time.
Other Participating Mortgage Companies Include:
- Chase Mortgage
- Wells Fargo
- Bank of America
- Some Local Banks and Lenders
This Christmas gift of sorts will affect thousands of homeowners who are behind on their mortgage payments and at risk of foreclosure. RealtyTrac has estimated an average of 89k foreclosure auctions have been scheduled during each month this year.
One exception to note is Fannie and Freddie will only halt holiday foreclosures on loans that participating banks own.
How to Take Advantage of the Holiday Foreclosure Suspension
If are behind on your payments and at risk of the bank foreclosing, you now have some extra time to work out a deal and prevent foreclosure on your home! Homeowners Servicing Company can help you determine whether or not your bank is halting foreclosures for the holidays. HSC can also help you avoid foreclosure by working with the bank on your behalf, or by offering other solutions such as short selling, deed-in-lieu of foreclosure, cash for keys, and more.
Contact HSC to Learn More About How This Holiday Stop on Foreclosures Can Help You!
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