“While the economic recovery is already underway, many American families still need more time and assistance to regain their financial footing,” said Ben Carson, the Secretary of HUD. “Our foreclosure and eviction extension means that these families will not have to worry about losing their home as they work to recover from the financial impacts of Covid-19.”
Servicers must continue to halt new foreclosure actions and suspend foreclosure actions that were in process, as well as cease evictions of people renting FHA-backed single family properties. The only exception to the stay is for occupants of legally vacant or abandoned properties.
Those who don’t have government-backed loans may also get forbearance, at the discretion of their lender.
“During this national health emergency no one should worry about losing their home,” said Federal Housing Finance Agency director Mark Calabria.