As the foreclosure wave keeps on rolling along, both Freddie Mac and Fannie Mae have announced that they will not move forward with the eviction process on foreclosures during the holiday season.
Online PR News – 24-December-2010 – – Las Vegas, NV ( onlineprnews ) December 23, 2010 - As the foreclosure wave keeps on rolling along, both Freddie Mac and Fannie Mae have announced that they will not move forward with the eviction process on foreclosures during the holiday season. From December 20th though January 3rd both lenders have decided to hold off on the eviction process of the foreclosure system. Other lenders traditionally do the same during the holiday, including Bank of America and Wells Fargo.
Scott Dale, owner of All Under One Roof Services, states; "This is just a continuation of the foreclosure disaster that we have seen over the last three years. If the banks do not change the way that modifications are being done, the foreclosure mess will continue along. A recent study has suggested that up to 11 million more residential properties may be at risk."
"As a Las Vegas Realtor ( http://allunderoneroofvegas.com/realestate.html ) and owner of a Las Vegas Maid Service ( http://allunderoneroofvegas.com/ ), I see the foreclosure process up close and personal. It takes a disastrous toll on the owners and family, as well as the communities that the properties are in." Dale continues "When our Las Vegas Maid Services enter a foreclosure for a clean out, there is evidence of the previous owners, whom often leave behind possessions in the hurry of the eviction process."
Truly, the only way to stop the crisis is for the lenders to work with the borrowers and keep them in their homes.
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