Some banks halting foreclosures for the holidays.

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Lenders such as Fannie Mae, Freddie Mac, JP Morgan Chase, Wells Fargo, and Bank of America are halting foreclosures during the holiday period. Fannie Mae and Freddie Mac will be halting their foreclosures from December 19th till January 2nd.

It is estimated that 22% of homeowners with mortgages are paying more for their homes that what the homes are actually worth.

This will just be a brief halt in foreclosures. After January 2nd, it will be business as usual.

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The halting of holiday foreclosures is a great thing but is only a very temporary fix. Come January 2nd, it will be back to business as usual and then the banks will go through the foreclosures that were not done through the holidays.

And speaking of holidays, we used to take the kids out to ride around after dark to see all the decorations people had put up outside. I have noticed lately, in our area, that there are very few decorated homes. This is most likely caused by the economy.

People are using the money they would have spent on lights for Christmas gifts and are really conserving when it comes to the high electric bills, but I sure do miss the lights.

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Now that Christmas is over, I expect it will be business as usual as far as foreclosures are concerned.

I would have thought that the banks and lending companies would have given people a few months in order to try to get their mortgage payments up to date.

Only having a couple of weeks sure wouldnt give anyone much time to catch up on back payment let alone several.

Perhaps one day they will work a little harder with people in order to keep them in their homes.