Share in Servicing Fannie Mae and Freddie Mac Share Holiday Cheer December 3, 2012 520 Views Fannie Mae Freddie Mac Lenders & Servicers 2012-12-03 Ashley Harris Homeowners facing foreclosure will find a brief respite during this year’s holiday season. Both “”Freddie Mac””:http://www.freddiemac.com/ and “”Fannie Mae””:http://www.fanniemae.com/portal/index.html have announced that they will pause on evicting families from their homes so that they can spend a few days not worrying about the future and focus on family.[IMAGE]Freddie Mac will suspend eviction activity on foreclosed single-family and two to four unit properties from December 19, 2012 through January 2, 2013. Fannie Mae will halt eviction activity from December 17, 2012 through January 2, 2012.[COLUMN_BREAK]Legal proceedings in regards to the foreclosures will still continue, but families will be able to remain physically in their homes for a couple of weeks during the end of the year. “”We’re taking this step in support of families who have faced financial challenges and gone through a foreclosure,”” said Terry Edwards, executive vice-president of credit portfolio management for Fannie Mae in a statement. “”The holidays are a chance to be with loved ones and we want to relieve some stress at this time of year. We encourage homeowners having difficulty to reach out for help as soon as possible.””This stay on evictions is separate from the 90-day suspension issued to Hurricane Sandy survivors. They have until February 1, 2013 to find an alternative housing solution. “”We are instructing our foreclosure attorneys to suspend pending eviction lockouts on foreclosed homes in order to provide a greater measure of certainty to families during the holiday season,”” said Tracy Mooney, Senior Vice President of Servicing and REO at Freddie Mac in a statement.
Twitter Share this storyCreditor protection given to cigarette maker suspends order to pay billions to victims Tumblr Pinterest Google+ LinkedIn Creditor protection given to cigarette maker suspends order to pay billions to victims Three companies had been ordered to make payments of more than $15-billion to smokers who either fell ill or were addicted Join the conversation → Email March 11, 20196:51 PM EDTLast UpdatedMarch 12, 20197:37 AM EDT Filed under News Retail & Marketing Facebook Comment The Canadian Press JTI-Macdonald Corp. says it was granted creditor protection following a Quebec Court of Appeal’s decision upholding a landmark judgment ordering three companies to pay billions of dollars in damages to Quebec smokers.Canadian Press More Stephanie Marin Recommended For YouG7 finance ministers look to rein in tech giants at French meeting’Artificial snow’ could save stricken Antarctic ice sheet -studyWhite House says Turkey’s involvement in F-35 program ‘impossible’Dollar slips with lower U.S. yields in tight rangesMarkets mostly recover from deep losses on Trump tweet about China MONTREAL — The Quebec Council on Tobacco and Health said Monday that smokers who won a recent court victory are being denied justice after an Ontario judge granted cigarette maker JTI-Macdonald Corp. protection from its creditors last week.JTI-Macdonald was among three companies that lost in the Quebec Court of Appeal March 1. The court upheld a landmark judgment ordering them to pay billions of dollars in damages to Quebec smokers. Now that JTI-Macdonald is under creditor protection, however, the company will not have to disperse any funds to tobacco victims for now.The Ontario Superior Court decision suspends legal proceedings against all three companies until April 5, even though only JTI-Macdonald sought protection from creditors. Benson & Hedges and Imperial Tobacco made no such request.The Quebec Council on Tobacco and Health led two class actions against the companies and won in 2015, when Quebec Superior Court Justice Brian Riordan ordered the companies to make payments of more than $15-billion to smokers who either fell ill or were addicted. At the time, the ruling was believed to be the biggest class action award in Canadian history.Philippe Trudel, one of the lawyers representing tobacco victims in the class action, called the Ontario court’s decision to suspend proceedings against all three companies “unusual.” Mario Bujold, spokesman for the Quebec Council on Tobacco and Health, said the Ontario court’s ruling can be extended beyond April 5 and he worries victims will never see any money.“Companies are very good at finding strategies to avoid paying damages they were ordered to pay,” Bujold said, adding the court’s decision will be contested.“The Superior Court in Ontario is suspending the rights recognized by six judges in Quebec,” he said. “It’s unacceptable.”In a statement released Friday, JTI-Macdonald said it needed to seek protection under the Companies’ Creditors Arrangement Act in order to “protect 500 Canadian jobs and carry on its business operations with minimal disruption.“We fundamentally disagree with the court decision and are taking all necessary and appropriate measures to defend our lawful business,” it said.The three companies are also considering appealing the $15-billion judgment rendered against them to the Supreme Court of Canada. 3 Comments Reddit