FHA extends foreclosure and eviction moratorium

Hi everyone, here is some news that may benefit those with FHA loans who are struggling financially due to the pandemic.

On Monday, Dec 21st the Federal Housing Administration (FHA) announced that they have extended (for the 4th time) the foreclosure and eviction moratorium for two more months (through Feb 28th 2021). They have also extended to Feb 28th the deadline for homeowners with FHA mortgages to request an initial Covid-19 forbearance under the CARES Act. Homeowners can request up to six months forbearance, with the option to extend for an additional six months. Forbearance means that your mortgage payments will be deferred or reduced (not forgiven).

FHA offers several tools to help you repay missed payments including a partial claim which places a junior lien on the property which will need to be paid when the house is sold or refinanced, or before the loan can fully be paid off. Check for details. You do not need to provide any special documentation to prove your Covid-19 related hardship and you will not pay any penalties.

FHA does not require any lump sum repayments at the end of the forbearance.

How do I find out who my mortgage loan servicer is?

You can check your monthly mortgage statement that arrives in the mail. You can also search online by clicking here:

I don’t have FHA – How Do I know who backs my Loan? - Fannie Mae lookup - Freddie Mac Lookup

For loans backed by Fannie Mae and Freddie Mac, they cannot foreclose on your property until after Jan 31, 2021.

More info for assistance if you do not have an FHA loan, check the following link:

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