Foreclosure Moratorium Extended

Covid-19 is out of control. Millions of people have been infected and over 350,000 have died.  There are also millions of Americans experiencing food insecurity for the first time.  I can describe the situation in one word – tragic. 

You can’t shelter in place if don’t have a place.

To give struggling homeowners some relief, the government decided to extend the foreclosure and eviction moratorium on federally-insured loans.

The moratorium on Fannie Mae and Freddie Mac loans has been extended to January 31, 2021.

The moratorium on FHA-insured loans has been extended to February 28, 2021. The FHA also extended the period to request a forbearance on making payments. 

During the moratorium banks are not allowed to file new foreclosure cases, proceed to final judgment, or evict residents with federally-insured loans from their homes. If your lender tries to do this to you, get in touch with us ASAP because they are violating your rights.

President-elect Biden and his administration have stated that they are committed to helping struggling homeowners. I promise to keep you up to date on all important developments. 

If you have a specific question about your situation, give us a call or send us an email.

2021 will not be easy, but it will be better than last year. Keep your heads up and stay in the fight. We will get through this. 

(This article is for informational purposes only. It is not legal advice. If you want to discuss your personal situation, please make an appointment with me at 561-214-6163 or email me at Malcolm@MEHRealProperty.com)