Homeowners facing foreclosure got a morsel of good news today: Fannie Mae and Freddie Mac won’t give them the boot over the holidays. The companies will suspend foreclosures of occupied houses from Nov. 26-Jan. 9 while they work out a loan-reform plan with lenders, MarketWatch reports. The six-week suspension should keep 16,000 homeowners safe for the time being.
“It’s a giant time out,” one analyst told Bloomberg. “I wouldn’t be surprised to see this across the board.”