On January 21, 2021 HUD issued Mortgage Letter 2021-03 which extends the previously extended Foreclosure and Eviction Moratorium through March 31, 2021 with the exception being vacant or abandoned properties.
The previous moratorium was set to expire on February 28, 2021. The HUD moratorium is applicable to 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.
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