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Veterans Administration Relief Measures

Ballard Spahr LLP

VA Extends Eviction Moratorium Through August 31

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On June 18, 2020, the U.S. Department of Veterans Affairs (VA) in Circular 26-20-23 (dated June 17, 2020) extended the eviction moratorium for properties secured by VA guaranteed loans from June 30, 2020 to August 31....more

McGlinchey Stafford

COVID Law Imposes Forbearance and Loss Mitigation Requirements

McGlinchey Stafford on

On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more

Ballard Spahr LLP

HUD and VA Extend Foreclosure Moratoriums Through August 31

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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,...more

Ballard Spahr LLP

VA Temporarily Suspends Property Inspection Requirements for Loans with Cares Act Forbearance

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The U.S. Department of Veterans Affairs (VA) issued Loan Guaranty Circular 26-20-21 to announce the temporary suspension of property inspections for loans subject to a CARES Act forbearance. ...more

PilieroMazza PLLC

Weekly Update Newsletter - April 2020 #3

PilieroMazza PLLC on

SMALL BUSINESS PROGRAMS & ADVISORY SERVICES - $484 Billion Relief Bill Signed Into Law, $310 Billion Allocated to Paycheck Protection Program, April 24, 2020 - H.R. 266, the Paycheck Protection Program and Health Care...more

Ballard Spahr LLP

VA Updated Guidance on Relief for Borrowers Experiencing Financial Hardship Due to COVID-19

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In Circular 26-20-12, dated April 8, 2020, the U.S. Department of Veterans Affairs (VA) updated its prior guidance on the relief available to VA loan borrowers based on the passage of the Coronavirus Aid, Relief, and Economic...more

Ballard Spahr LLP

VA Strongly Encourages Foreclosure and Eviction Moratorium

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In Circular 26-20-8, the Department of Veterans Affairs (VA) “strongly encourages” mortgage servicers to observe a foreclosure and eviction moratorium of 60 days from March 18, 2020, with regard to mortgage loan borrowers...more

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