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FHFA extends foreclosure and eviction moratorium

6/17/2020

FHFA Extends Foreclosure and Eviction Moratorium Moratorium applies to Enterprise-backed mortgages
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) will extend their moratorium on single-family foreclosures and evictions until at least August 31, 2020. The foreclosure and eviction moratorium applies to Enterprise-backed, single-family mortgages only. The current moratorium was set to expire on June 30th.
“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.
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.Author: Federal Housing Finance Agency

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7/20/2020 12:31:04 am

I don't see how they are going to fix this. They can't let everyone go bankrupt and lose their home. They need to bail out the individual and take over their loan. The banks shouldn't get stuck with bad paper and homeowners should be evicted. The government should take over the deeds and rent the houses back to people or use them for the homeless if there is a abundance of homes.

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Thanks for the article. I think they will need a program that offers actual forgiveness on all the levels. The landlord forgives the renter and the bank forgives the landlord and the nation forgive the bank. We can't have people losing their homes and their jobs while they get sick

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In the News....

FHFA extends foreclosure and eviction moratorium

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