HUD & FHFA Extend Foreclosure & Eviction Moratoriums through August

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The U.S. Department of Housing & Urban Development (HUD) announced in mid-June that they were extending their moratorium on foreclosures and evictions through August 31, 2020.  The foreclosure moratorium applies to homeowners with FHA-insured Single Family mortgages.

“While the economic recovery is already underway, many American families still need more time and assistance to regain their financial footing,” said HUD Secretary Ben Carson. “Our foreclosure and eviction extension means that these families will not have to worry about losing their home as they work to recover from the financial impacts of COVID-19.”

Click here to read the full release at HUD.gov.

In addition:

The Federal Housing Finance Agency (FHFA) announced in mid-June that they are extending their moratorium on foreclosures and evictions through August 31, 2020.  The foreclosure moratorium applies to Enterprise-backed (Fannie Mae & Freddie mac), single-family mortgages only. The current moratorium was set to expire at the end of June.

“To protect borrowers and renters during the pandemic we are extending the Enterprises’ foreclosure and eviction moratorium. During this national health emergency no one should worry about losing their home,” said Director Mark Calabria.

Click here to read the full release at the FHFA.

 

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Director of Education & Outreach, National Real Estate Investors Association

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