Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Once a home has gone through that process, eviction is the next step. An average of 89,000 foreclosure auctions a month have been scheduled this year, according to RealtyTrac. Like Wells Fargo, it will also honor the wishes of the owners of the loans it services, which could mean moving forward with certain foreclosures.Ī holiday halt on foreclosures by the major mortgage lenders could affect tens of thousands of homeowners. However, that policy only applies to loans the bank itself owns. The bank said it will observe the moratorium on foreclosed properties in its own portfolio but for loans it services for other lenders "foreclosure-related actions may still occur."īank of America ( BAC, Fortune 500) said that it would "avoid foreclosure sales or displacement of homeowners or tenants around the Thanksgiving and Christmas holidays." Why Fannie/Freddie execs get paid a lot Wells Fargo ( WFC, Fortune 500) will also suspend evictions during that period, but will not shut down its eviction machinery entirely. "No family should have to give up their home during this holiday season," said Terry Edwards, an executive vice president for Fannie Mae.Īmong some of the major banks that offer mortgage loans, Chase ( JPM, Fortune 500) Mortgage said it will not evict anyone between Dec.
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