Federal Agencies Issue Moratoriums on Foreclosures and Evictions

Following actions taking at the local and state levels, the Federal Housing Administration (FHA) has implemented an immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages for the next 60 days.

The move applies to all FHA-insured Title II Single Family forward and reverse mortgages.

Also on Wednesday, the Federal Housing Finance Agency (FHFA) announced that it is directing Fannie Mae and Freddie Mac to suspend foreclosures and evictions for at least 60 days. According to the FHFA, the foreclosure and eviction suspension applies to homeowners whose single-family mortgage is backed by either Fannie Mae or Freddie Mac.

The state of Maryland, Washington, DC and Virginia issued moratoriums on evictions and foreclosure in the past week.