BY BRAD BECKETT ON MAY 14, 2020
The Federal Housing Finance Agency (FHFA) announced in mid-May that they are extending their moratorium on foreclosures and evictions until at least June 30, 2020. The foreclosure moratorium applies to Enterprise-backed (Fannie Mae & Freddie mac), single-family mortgages only. Click here to read more.
The current moratorium was set to expire on May 17th. The full text of the release is listed below:
FHFA Extends Foreclosure and Eviction Moratorium
Moratorium applies to Enterprise-backed mortgages
Washington, D.C. – Today, to help borrowers and renters who are at risk of losing their home due to the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are extending their moratorium on foreclosures and evictions until at least June 30, 2020. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The current moratorium was set to expire on May 17th.
“During this national health emergency, no one should be forced from their home,” said Director Mark Calabria. “Extending the foreclosure and eviction moratoriums protects homeowners and renters with an Enterprise-backed mortgage and provides certainty for families.”
FHFA will continue to monitor the coronavirus situation and update policies as needed. To understand the protections and assistance the government is offering people having trouble paying their mortgage, please visit the joint Department of Housing and Urban Development, FHFA, and the Consumer Financial Protection Bureau website at cfpb.gov/housing