USDA Extends Eviction and Foreclosure Moratorium, and Offers Guidance on Mortgage Forbearance Deadline PURPOSE
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...