The Federal Housing Finance Administration (FHFA), an independent federal agency that oversees Fannie Mae and Freddie Mac, has announced that it is extending its moratorium on residential mortgage foreclosures through July 31, 2021. This moratorium was scheduled to expire on June 30, 2021. This applies to all residential mortgage loans that are owned by Fannie Mae and Freddie Mac, and prevents any servicer from seeking to file a foreclosure or complete a foreclosure on any residential property that is occupied.
In addition, the Biden Administration has extended its moratorium on foreclosures for federally backed mortgages (loans insured by HUD, VA and USDA) through July 31, 2021. The moratorium on federally backed loans, which has been in place since March 2020 and extended on several occasions, was also scheduled to expire on June 30, 2021.
Lastly, the Centers for Decease Control (CDC) announced that it has extended its nationwide moratorium on residential tenant evictions through July 31, 2021. Much like the foreclosure moratoriums on federally backed loans, the moratorium on evictions was scheduled to expire on June 30, 2021. In announcing this extension, the CDC has also stated that this will be the last extension of its moratorium.
If you have any questions or concerns about these moratoriums, or any other matters related to creditor’s rights, please do not hesitate to reach out to one of the attorneys at Sorenson Van Leuven, PLLC.
