The ban on foreclosure sales and evictions from houses owned by mortgage giants Fannie Mae and Freddie Mac, which began as a high-profile effort just before the holidays to keep people in their homes as the government tried to come up with homeowner rescue plans, is over.A Spokesman for Fannie Mae and Freddie Mac confirmed the ban ended March 31. Freddie Mac CEO David Moffett issued a statement at the time, saying the ban "provides a new measure of certainty" to families facing foreclosures during the holidays.
But its expiration didn't seem to merit the same level of fanfare, with some housing advocates caught by surprise.
This means that more hidden inventory will come on the market! Additionally, it is spring traditionally a great time for home sellers. The sellers will have to compete with a glut of new foreclosures.
This means that more hidden inventory will come on the market! Additionally, it is spring traditionally a great time for home sellers. The sellers will have to compete with a glut of new foreclosures.
Barbara Whisenant
Short Sale & Foreclosure Specialist
www.Home4SaleSanDiego.com * www.Twitter.com/barbarawhis * www.LinkedIn.com/in/barbarawhisenant
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