FHFA Extends Foreclosure and Eviction Moratoriums (UPDATED)

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On June 24, 2021, the Federal Housing Finance Agency (FHFA) announced the extension of the Fannie Mae and Freddie Mac moratorium on single-family foreclosures from June 30, 2021 to July 31, 2021. The moratorium on evictions from single-family homes owned by Fannie Mae or Freddie Mac also is extended until July 31, 2021. The announcement does not address evictions from multifamily properties subject to a Fannie Mae or Freddie Mac loan.

Fannie Mae addresses the extension of the foreclosure moratorium in an update to Lender Letter 2021-02, and Freddie Mac addresses the extension in Bulletin 2021-23. Fannie Mae and Freddie Mac advise that the foreclosure moratorium does not apply to properties determined to be vacant or abandoned.

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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