Distressed homeowners are seemingly getting a Christmas gift from their banks this year...many of the nations largest banks are reportedly halting foreclosures from December 16, 2011 to January 2, 2012.
Fannie Mae, Freddie Mac, Wells Fargo, Bank of America, and other banks have announced they will not foreclose on delinquent homeowners during the holidays. They are hoping this will give homeowners the much-needed time they need to get back on their feet. However, it is very important to know that the foreclosure process will continue to move forward, but homeowners WILL NOT be evicted from their homes during the holiday season. While banks are lauding themselves for their selfless act, in reality, very few homeowners may be affected by the foreclosure holiday.
According to a certified financial planner, Carolyn McClanahan, this is the "humane thing to do...People should't be kicked out of their homes during the holidays." If you are a struggling homeowner facing foreclosure, it is important for you to use this standstill to your advantage. Use it to create a plan to save your home, or look for different avenues that are more affordable.
It is important to remember that banks will still be prosecuting foreclosures during the foreclosure holiday to be vigilant for any foreclosure related pleadings you may receive during that time. If you are currently facing a Florida Foreclosure Lawsuit, contact a Florida Foreclosure Lawyer or a J Jacksonville Foreclosure Defense Lawyer for complimentary consultation to determine what foreclosure options may be available to you.
