Economy

Government-Backed Mortgage Agencies Won’t Foreclose During The Holidays

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Government-sponsored mortgage giants Fannie Mae and Freddie Mac won’t proceed with foreclosure evictions during the holiday season — starting December 17 and December 19 and extending through January 2, 2013 — the companies announced Monday. That means homeowners who could be facing eviction won’t have their homes repossessed during that time. Other proceedings, including foreclosure filings and the scheduling of auctions, will continue as planned. Bank of America has also announced that it will halt foreclosures during the holidays.