FHFA Extends Foreclosure and Eviction Moratorium
Moratorium applies to Enterprise-backed mortgages
FOR IMMEDIATE RELEASE
6/17/2020
Washington, D.C. – Today, to help borrowers and renters who are 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) will extend their single-family moratorium on foreclosures and evictions until at least August 31, 2020. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The current moratorium was set to expire on June 30th.
"To protect borrowers and renters during the pandemic we are extending the Enterprises' foreclosure and eviction moratorium. During this national health emergency no one should worry about losing their home," said Director Mark Calabria.
FHFA will continue to monitor the coronavirus situation and update policies as needed. To understand the protections and assistance the government is offering people 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.
Mortgage and housing assistance during the coronavirus national emergency
If you're concerned about how to pay your mortgage or rent due to the coronavirus national emergency, read on for information on what to do now, and what your options are for mortgage and rent payment relief.
The Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) , and U.S. Department of Housing and Urban Development (HUD) are working together to help homeowners and renters during the coronavirus pandemic.
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Get started with key terms and mortgage basicsMortgage relief options: steps to get relief
Learn about your options and which ones you may qualify for
A new federal law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, puts in place protections for homeowners with mortgages that are federally or Government Sponsored Enterprise (GSE) backed or funded (by FHA, VA, USDA, Fannie Mae, or Freddie Mac).
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Find out which options you may qualify for
See how to request forbearance or mortgage relief
You are entitled to mortgage forbearance if you have a federally or GSE-backed mortgage and you are experiencing financial hardship due, directly or indirectly, to the coronavirus national emergency. When requesting mortgage relief, be prepared with the following information and questions you want to ask.
Request forbearance or mortgage relief
What to do once you’ve received a mortgage relief option
While you’re in a special coronavirus forbearance period, or working under another mortgage relief option, there are a number of things to do to continue to protect yourself.
Review what you should do after receiving mortgage relief
Protections for renters
Federal, state, and local governments are taking action to offer relief, and this includes protecting many renters from eviction and late fees for nonpayment from March 27 to July 24, 2020.
Avoiding scams and bad actors
Beware of coronavirus-related scams
Scammers often take advantage of vulnerable consumers during disasters and financial shocks.
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Are you having trouble with a financial product or service? Try reaching out to the company first. If you've already tried reaching out to the company and still have an issue, you can submit a complaint. Tell us about your issue—we'll forward it to the company and work to get you a response, generally within 15 days.
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