FHA Extends Foreclosure Moratorium on Hurricane-Impacted Areas

Oct 23, 2017

The Federal Housing Administration (FHA) has extended its 90-day foreclosure moratorium for FHA-insured homeowners impacted by Hurricanes Harvey, Irma and Maria for an additional 90 days in presidentially declared counties and municipalities where the Federal Emergency Management Agency (FEMA) is operating its Individual Assistance Program.

Under the expanded moratorium, FHA is instructing lenders and servicers to suspend all foreclosure actions against borrowers impacted by Hurricane Harvey until Feb. 21, by Hurricane Irma until March 9 and Hurricane Maria until March 19.

FHA-insured homeowners may qualify for this relief if the household lives within the geographic boundaries of a presidentially declared disaster area, if a household member of someone who is deceased, missing or injured directly due to the disaster, or if the borrower's ability to make mortgage payments is directly or substantially affected by a disaster.

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Phil Hall

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Oct 23, 2017

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