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Banks to suspend bank repossessions of homes during holidays

December 4, 2012 12:00:00 AM PST
Many homeowners facing foreclosure or eviction will be getting a break for the holidays.

Freddie Mac is suspending all bank repossessions beginning on December 17, and Fannie Mae will do the same beginning on December 19. They will resume the proceedings January 2, 2013.

Bank of America, JPMorgan Chase and Citigroup are also suspending evictions for the holidays.

The lenders say they do not want to add to anyone's stress during the holidays.