The national moratorium on evictions and foreclosures has been extended again, kicking the can down the road for what may be an inevitable reckoning for millions of homeowners. It could ramp up the pressure on a lot of landlords just hanging on, too.
The Federal Housing Finance Agency (FHFA) announced Wednesday that it has extended until “at least” Jan. 31 moratoriums on single-family foreclosures and real estate-owned (REO) evictions for residents of properties financed by Fannie Mae or Freddie Mac and the 11 Federal Home Loan Banks.
The FHFA says it’s extending the protections “to help borrowers at risk of losing their home due to the coronavirus national emergency” and says the foreclosure moratorium applies to -backed, single-family mortgages only. The agency says the REO eviction moratorium applies to properties that have been acquired by a GSE through foreclosure or deed in lieu of foreclosure transactions.