Federal Housing Finance Agency Extends Foreclosure and REO Eviction Moratoriums

To help borrowers at risk of losing their home due to the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) has extended the moratoriums on single-family foreclosures and real estate owned (REO) evictions until at least December 31, 2020.

The foreclosure moratorium applies to Fannie Mae or Freddie Mac backed single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by either Fannie Mae or Freddie Mac through foreclosure or deed-in-lieu of foreclosure transactions.

The extension protects more than 28 million homeowners with an Enterprise-backed mortgage, according to the FHFA. To understand the protections and assistance offered by the government to those having trouble paying their mortgage, please visit the joint Department of Housing and Urban Development, FHFA, and the Consumer Financial Protection Bureau website at cfpb.gov/housing.​

O’Reilly Rancilio’s real estate attorneys are ready to answer your questions related to the COVID-19 crisis. For information, call 586-726-1000 or visit our website.