FHA Extends Foreclosure Moratoriums and other COVID-19 Related Policies

Weiner Brodsky Kider PC

Weiner Brodsky Kider PC

FHA recently extended several temporary provisions and policy waivers to help mitigate the impacts of the COVID-19 pandemic on FHA-insured borrowers.  These extensions include, among other items:

  • the extension of the foreclosure and eviction moratorium on foreclosures of properties secured by FHA-insured single-family mortgage loans (except for vacant or abandoned properties) through February 28, 2021;
  • the extension of the approval date for initial COVID-19 related forbearance requests or Home Equity Conversion Mortgage extension through February 28, 2021;
  • the extension of the temporary provisions for endorsement processes for mortgages in which a borrower has been granted a COVID-19 related forbearance through March 31, 2021; and
  • the extension of the exterior-only appraisal inspection first described in Mortgagee Letter 2020-37 through February 28, 2021.

For more information, see WBK’s prior articles on the foreclosure and eviction moratorium, approval date for initial forbearance requests, and loan endorsements under COVID-19 forbearance.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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