Two Week Moratorium on Foreclosures (Some)

From the Chicago Tribune:

Fannie Mae and Freddie Mac said on Monday they would provide a break for borrowers facing foreclosure to ensure those having problems making monthly mortgage payments will remain in their homes during the holidays.

Fannie Mae said its eviction moratorium would apply to single-family homes and two- to four-unit properties from December 19 through January 2, 2013. Freddie Mac said it would offer the suspension from December 17 through January 2, 2013.

See the criticism of Prof. Adam Levitin on Credit Slips. 

“I’ve got a beef with this foreclosure moratorium.  It captures everything that is wrong with how the GSEs and FHFA have handled foreclosures.”

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