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Home for the Holidays…..
In what is probably a “solid” PR move but yet a good one for those who are facing foreclosure, Bank of America, Chase, Citigroup and Fannie and Freddie have all announced that they are suspending foreclosure evictions for the holidays. Until January 3, they won’t be issuing foreclosure evictions.
That means that those who are “very close” to the end of the foreclosure process don’t have to worry about finding a place to live until after Christmas and I think that’s a good thing.
Do I think that it will change any of the situations for those who this “halt” this impacts? No, I really don’t expect it will.
But I like the idea of children not having to move before Christmas because their parents are losing their home.
Tom Vanderwell
Bank of America (BAC: 15.03 +1.14%) and JPMorgan Chase (JPM: 40.95 +1.69%) are suspending foreclosures for the holiday, joining Citigroup (C: 3.40 +6.25%) and the government-sponsored enterprises (GSEs), Fannie Mae (FNM: 1.10 +0.92%) and Freddie Mac (FRE: 1.30 -5.80%).
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