On June 17, 2020 HUD issued Mortgage Letter 2020-19 which extends the previously extended Foreclosure and Eviction Moratorium through August 31st, 2020 with the exception being vacant or abandoned properties. The FHFA announced Fannie Mae and Freddie Mac will extend their Foreclosure and Eviction moratorium through August 31, 2020 as well.
The previous moratorium was set to expire on June 30, 2020. The HUD moratorium does to apply HECM (Reverse Mortgages).
The guidance provides the moratorium applies to Initiation of Foreclosures and to Foreclosures in process.
Please contact Greenspoon Marder’s Financial Services team with any questions on the application of the extended Foreclosure and Eviction Moratorium as well as the interplay of the Extended Moratorium with State Specific Executive Orders.