For the holidays, major lenders are halting foreclosure evictions and some South Florida courts are canceling hearings as well as foreclosure sales.
Mortgage giants Fannie Mae and Freddie Mac plan to halt foreclosure evictions during the Christmas and New Year's holidays.
Bank of America also said it will pause its foreclosure sales and evictions from “late December through New Year's Day,” on loans in its portfolio or held by investors who will allow such a moratorium.
In Broward, the 17th judicial circuit has canceled all scheduled foreclosure auctions through the end of the year. Any foreclosure hearings set for that period must also be rescheduled, according to the courts.
In Palm Beach County, Chief Judge Peter Blanc said he hasn’t issued a smilar order, although sales can be canceled by request to the judge overseeing the case.
Major lenders last year also called a halt to evictions at this time of year.
But many loan servicers had already drastically slowed or stopped the process starting in September, to deal with shoddy paperwork and faulty legal processes.
Information from The Palm Beach Post supplemented this article.