HUD and VA Extend Foreclosure Moratoriums Through August 31

Ballard Spahr LLP
Contact

Ballard Spahr LLP

On June 17, 2020, the U.S. Department of Housing and Urban Development (HUD) in Mortgagee Letter 2020-19 extended the foreclosure and eviction moratorium for FHA insured single-family loans from June 30, 2020 to August 31, 2020. Also on June 17, 2020, the U.S. Department of Veterans Affairs (VA) in Circular 26-20-22 extended the foreclosure moratorium for VA guaranteed loans from June 30, 2020 to August 31. 2020.

The FHA moratorium applies to all FHA Title II single-family forward and Home Equity Conversion (reverse) mortgage loans, except for FHA loans secured by vacant or abandoned properties. Deadlines for the first legal action and reasonable diligence timelines are extended by 90 days from the date of expiration of the moratorium.

As previously reported, recently the Federal Housing Finance Agency announced the extension of the Fannie Mae and Freddie Mac moratorium on foreclosures and evictions from June 30, 2020 to August 31, 2020.

 

 

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.

© Ballard Spahr LLP | Attorney Advertising

Written by:

Ballard Spahr LLP
Contact
more
less

Ballard Spahr LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.