Santa Foreclosure Clause

ht edu1954

I thought of this footage of a woman and her kids being evicted just before Christmas when I heard about Fannie Mae and Freddie Mac putting a moratorium on foreclosure through the holidays.  Cynicism dictates I acknowledge this is a business move by the mortgage companies so they can evaluate borrowers who qualify for the loan modification program.

Still, knowing that thousands of people will not go through what the woman in the video went through is a little comforting. Fannie Mae reports about 10,000 households will be temporarily spared, and Freddie Mac says the changes will affect about 6,000 borrowers.