The U.S. Department of Housing and Urban Development (HUD) has authorized the Federal Housing Administration (FHA) to implement an immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages for the next 60 days. The moratorium is intended to address the impacts to the financial well-being of America’s individuals, families and businesses caused by the Coronavirus.
The guidance issued directs mortgage servicers to:
Halt all new foreclosure actions and suspend all foreclosure actions currently in process; and
Cease all evictions of persons from FHA-insured single-family properties.