The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will extend their single-family moratorium on foreclosures and evictions related to the coronavirus until at least Aug. 31, 2020. The current moratorium was set to expire on June 30. The foreclosure moratorium applies to GSE-backed, single-family mortgages only.
Also announcing the same extension was the Federal Housing Administration (FHA) who extended its foreclosure and eviction moratorium through Aug. 31, 2020, for 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.”
FHA’s single-family foreclosure and eviction moratorium extension applies to homeowners with FHA-insured Title II Single-Family forward and Home Equity Conversion Mortgages, and continues to direct mortgage servicers to:
►Halt all new foreclosure actions and suspend all foreclosure actions currently in process, excluding legally vacant or abandoned properties; and
►Cease all evictions of persons from FHA-insured single-family properties, excluding actions to evict occupants of legally vacant or abandoned properties.