Fannie Mae and Freddie Mac, mortgage finance companies, have suspended foreclosures and evictions for about two weeks, which will give a small break to borrowers during this holiday season. It’s a nice thing to do, but they could do so much more by working harder to help people out of their mortgage situations.
The suspension will run through January 3, 2010. “No family should have to face the prospect of being evicted during the holiday season,” says Michael Williams, who is Fannie Mae’s chief executive. They do not have an estimate of how many people this will affect.
Thursday, Citigroup Inc. gave a 30 day suspension to about 4,000 of their borrowers. Many people are in this situation this year and need help.
