Foreclosure and Eviction Moratorium from HUD-, FHA-, and VA-Backed Mortgages Extended
Due to the ongoing economic impacts of the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that it is extending the foreclosure moratorium set to expire on Monday, August 31 until December 31, 2020. This applies to single-family properties with Freddie Mac and Fannie Mae backed mortgages. It also continues a moratorium on evictions from real estate owned properties (REO) that were acquired by the agencies by foreclosures or deed-in-lieu of foreclosure transactions. FHFA states that this extension protects over 28 million homeowners from loss of their property during this critical time.
The Department of Housing and Urban Development (HUD) announced last week that it was extending the moratorium on foreclosures and evictions from FHA mortgaged properties through the end of the year as well. This protection applies to over 8 million homeowners of FHA insured properties. The Veteran’s Administration (VA) has also extended the moratorium on foreclosure for borrowers with VA mortgages.
Borrowers should look for information about any assistance available to the Consumer Financial Protection Bureau website, which contains information about the moratorium, forbearance and warnings about housing scams. If you are behind in your mortgage and want need legal advice, please contact NPLS to apply for services, or reach out to your local bar association.
You (or your landlord) may have a federally-backed mortgage without knowing it. You can check these websites:
A non-exhaustive database of multifamily properties with HUD, FHA, USDA, Fannie Mae and Freddie Mac mortgages can be found at the National Low Income Housing Coalition: https://nlihc.org/federal-moratoriums?ct=t%28update_041720%29
Properties that have multifamily FHA or USDA mortgages are searchable on the National Housing Preservation Database: https://preservationdatabase.org/
The owner can call the FHA, VA, USDA, Fannie Mae or Freddie Mac escalation number listed on this website to inquire as to the status of their mortgage: https://www.hmpadmin.com/portal/resources/advisors/escalation.jsp
The owner can see whether Fannie Mae or Freddie Mac own their mortgage on these sites: https://www.consumerfinance.gov/ask-cfpb/how-can-i-tell-who-owns-my-mortgage-en-214/, https://www.knowyouroptions.com/loanlookup, or https://ww3.freddiemac.com/loanlookup/
An owner or tenant can look up whether Fannie Mae or Freddie Mac is guaranteeing a mortgage on a multi-unit building on these sites: https://myhome.freddiemac.com/renting/lookup.html or https://www.knowyouroptions.com/rentersresourcefinder
If you’re a tenant being evicted, your landlord should have filed a statement, with the complaint, telling the court whether they have a federally-backed mortgage.