![hud fannie mae foreclosures hud fannie mae foreclosures](https://www.northmarq.com/wp-content/uploads/2022/02/Transaction-volume-capital-sourcesYE2021_350px.png)
![hud fannie mae foreclosures hud fannie mae foreclosures](https://www.hud232.loan/cdn-images/v1/5b577fe55ffd20a9c3b093d3/1542131358353-UHZFR76C78IAO2UQDZPW/hud-multifamily-loans.jpeg)
![hud fannie mae foreclosures hud fannie mae foreclosures](https://www.jchs.harvard.edu/sites/default/files/media/imp/iStock-foresclosed-home-overgrown.jpg)
“Today’s actions will allow households who have an FHA-insured mortgage to meet the challenges of COVID-19 without fear of losing their homes, and help steady market concerns,” HUD Secretary Ben Carson said. The FHA foreclosure moratorium applies to homeowners that have an FHA-insured Title II Single Family forward and Home Equity Conversion mortgage. “The Enterprises are working with mortgage servicers to ensure that borrowers facing hardship because of the coronavirus can get assistance.” “As a reminder, borrowers affected by the coronavirus who are having difficulty paying their mortgage should reach out to their mortgage servicers as soon as possible,” Calabria added. Given that Fannie and Freddie are the largest mortgage financers in the country, the move is a sizable one. “This foreclosure and eviction suspension allows homeowners with an Enterprise-backed mortgage to stay in their homes during this national emergency,” FHFA Director Mark Calabria said in a statement. That would mean the moratorium lasts through mid-May, at least.Īccording to the FHFA, the foreclosure and eviction suspension applies to homeowners whose single-family mortgage is backed by either Fannie Mae or Freddie Mac. The FHFA announced Wednesday that it is directing Fannie Mae and Freddie Mac to suspend foreclosures and evictions for “at least 60 days.” That matches the policy announced Wednesday by the Federal Housing Finance Agency. HUD later announced its official policy, stating that the Federal Housing Administration is enacting an “immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages” for the next 60 days. President Donald Trump announced Wednesday that the Department of Housing and Urban Development is suspending all foreclosures and evictions until the end of April. Foreclosure moratorium will last for 60 days.Ĭities and states across the country are already suspending evictions and foreclosures in response to the spread of the coronavirus, but the federal government is taking the biggest step so far to keep people in their homes.