FHA foreclosure, eviction moratorium extended again to provide economic relief to home ownersding
NATION: Federal Housing Administration’s foreclosure and eviction moratorium has been extended, along with the start date for COVID-19 Forbearance.
According to the press release: “The extension of the foreclosure and eviction moratoriums applies to all homeowners with an FHA-insured forward or Home Equity Conversion Mortgage (HECM) loan, and homeowners with a Section 184 or Section 184A mortgage loan, except for properties that are legally vacant or abandoned, through June 30, 2021. HUD prohibits servicers from initiating or proceeding with foreclosure and foreclosure-related eviction actions during the moratoriums. HUD also extended the deadlines for the first legal action and reasonable diligence timeframes for servicers to 180 days from the date of expiration of the foreclosure and eviction moratorium.”
The COVID-19 Forbearance now allows up to two forbearance extensions, each for up to three months for those that requested COVID-19 Forbearance on or before June 30, 2020.
Additional details for the full actionsand options can be found in the Mortgagee Letter 2021-05.
Ascent combines focused research and centralized operations oversight to create innovative outsourced solutions for code enforcement violations, vacant property registration ordinances, property preservation, and other vendor management needs from across the United States.