Kentucky USDA Rural Housing Mortgage Lender

 WASHINGTON, July 23, 2021 – United States Department of Agriculture (USDA) Deputy Under Secretary for Rural Development Justin Maxson today announced that the Department is extending the COVID-19 Special Relief Measure for USDA’s Single-Family Housing Guaranteed Loan borrowers. The USDA COVID-19 Special Relief Measure provides new alternatives for borrowers to help them achieve  up to a 20 percent reduction in their monthly principal and interest payments. New options include an interest rate reduction, term extension and a mortgage recovery advance, which can help cover past due mortgage payments and related costs.   Borrowers will first be assessed for an interest rate reduction, and if additional relief is still needed, the borrowers will be considered for a combination rate reduction and term extension. In cases where a combination of rate reduction and term extension is not enough to achieve a 20 percent payment reduction, a third option combining the rate redu...

  USDA Extends Eviction and Foreclosure Moratorium, and Offers Guidance on Mortgage Forbearance Deadline PURPOSE The purpose of this notice is to announce an extension of the moratorium on foreclosure and to extend the date by which a lender may approve a borrower’s request for an initial COVID-19 mortgage payment forbearance. Extension on Foreclosures and Evictions through July 31, 2021 The U.S. Department of Agriculture (USDA) Rural Development is extending its moratorium on foreclosures through July 31, 2021 for Single Family Housing Guaranteed Loan Program (SFHGLP) borrowers. The moratorium does not apply in cases where the lender has documented the property to be vacant or abandoned. After the moratorium ends, no new foreclosure filings should occur until homeowners are reviewed for new options to reduce their payments and stay in their homes.  USDA will release new COVID-19 SFHGLP loss mitigation guidance prior to the July 31, 2021 expiration date. Extending COVID-19 New...