On June 17, the Department of Housing and Urban Development (HUD) in Mortgagee Letter 2020-19 extended the foreclosure and eviction moratorium for Federal Housing Administration (FHA) insured single-family loans from June 30 to Aug. 31, according to a release from the FHA.
Also June 17, the U.S. Department of Veterans Affairs (VA) in Circular 26-20-22 extended the foreclosure moratorium for VA guaranteed loans from June 30 to Aug. 31.
The FHA moratorium applies to all FHA Title II single-family forward and Home Equity Conversion (reverse) mortgage loans, except for FHA loans secured by vacant or abandoned properties. Deadlines for the first legal action and reasonable diligence timelines are extended by 90 days from the date of expiration of the moratorium, according to the release.
As previously reported, the Federal Housing Finance Agency announced the extension of the Fannie Mae and Freddie Mac moratorium on foreclosures and evictions from June 30 to Aug. 31.