Foreclosure Evictions Suspended During Holidays

Ladera Ranch- Orange County, CA/December 18, 2009 -

As Short Sale and Foreclosure realtors in Orange County, we would like to report that foreclosure evictions will be suspended by Fannie Mae and Freddie Mac from December 19, 2009 through January 3, 2010, in a move to help struggling families over the holidays. Fannie Mae will not evict owner-occupants and tenants living in properties foreclosed upon by their agencies. These suspencions will only pertain to properties up to four units.

Citigroup Inc. will also suspend foreclosure sales and evictions for 30 days through January 17, 2010 for loans it owns. Citigroup's foreclosure moratorium, however, does not extend to loans it services on behalf of other investors. Given these developments, other lenders may follow suit, so check with the lender if appropriate.

Your orange county short sale realtors - Jane & Doug Lippman