Happy Holidays from Fannie & Freddie - No Foreclosures from Dec. 19th - Jan. 2nd

It's beginning to feel a lot like Christmas. Fannie Mac, Freddie Mac and several other major banks such as Chase and Wells Fargo have pledged not to foreclose on late homeowners during this holiday season. Wells Fargo noted that it suspend foreclosures on loans within its portfolio while it still may proceed with loans held by other lenders that the bank is servicing.

That certainly was nice of them. Perhaps the agencies and banks are simply saying "thank you" for the billions of dollars they received in tax payer bailouts.

Just a quick reminder that both JP Morgan Chase and Wells Fargo each received $25,000,000,000 in bailout funds. Fannie received $112.6 billion and recently asked for $7.8 billion more. Freddie's only received $72.2 billion from the government and recently asked for another $6 billion.

So, thank you Fannie, Freddie, Chase and Wells doing a little something for the people who bailed you out.