This is the second time the FHFA has extended the ban on foreclosures for GSE-backed mortgages
The Federal Housing Finance Agency has announced that it will extend its moratorium on foreclosures and evictions until at least Aug. 31.
The FHFA said Wednesday that the extension was “to help borrowers and renters who are at risk of losing their home due to the national coronavirus emergency.” The foreclosure moratorium applies to single-family mortgages backed by Fannie Mae or Freddie Mac.
“To protect borrowers and renters during the pandemic, we are extending the enterprises’ foreclosure moratorium,” said FHFA Director Mark Calabria. “During this national health emergency, no one should worry about losing their home.”
This is the second extension the FHFA has announced. Last month, the agency extended the moratorium until June 30. The moratorium was originally set to expire May 17.
The FHFA said it would “continue to monitor the situation and update policies as needed.”