Freddie Mac and Fannie Mae are postponing foreclosure evictions on mortgage loans they own or back from December 20th to January 3rd.
Wells Fargo will freeze foreclosure sales for the holiday. The lender’s freeze will run the same two week period as that of Fannie Mae and Freddie Mac. It will only postpone sales of home loans that it owns. For other loans that it only services, that are owned by others (“owners” or “ investors”), it will only postpone sales if authorized by the investor.
Bank of America may postpone foreclosure sales on loans it owns or that are owned by investors that give the bank delegated authority to act. Like Wells Fargo, Bank of America will postpone sales of homes whose loans are held by investors only if authorized by the investor.
Carlos L. McDade, Esq.