USDA Extends Foreclosure and Eviction Moratorium, Relief Options for Single Family Housing Direct and Guaranteed Loan Borrowers
Moratorium and relief options extended through February 28, 2021 Foreclosure and Eviction Moratorium Extension: The U.S. Department of Agriculture (USDA) Rural Development is extending its foreclosure and eviction moratorium for all Single Family Housing direct and guaranteed home loans through February 28, 2021, to help rural homeowners affected by the COVID-19 pandemic. The moratorium prohibits: The initiation of foreclosures or completion of foreclosures already in process, excluding on vacant and abandoned properties. Evictions of homeowners from properties bought with a USDA direct or guaranteed home loan. Loan servicers seeking to assist USDA guaranteed loan borrowers may also pursue any of the relief options referenced in Chapter 18 of the Technical Assistance Handbook-1-3555 . Loan Forbearance: USDA direct home loan borrowers who have been impacted by the pandemic may request payment forbearance for up to one year. The initial forbearance per...