- Foreclosure protections
- Feb 9, 2021: The Federal Housing Finance Agency has extended its moratorium on single-family foreclosures through at least March 31, 2021, for homeowners in Fannie and Freddie-backed single-family mortgages.
- The FHA has extended its foreclosure and eviction moratorium through at least June 30, 2021, for homeowners with FHA-insured single family mortgages covered under the CARES Act.
- The USDA has extended its suspension of foreclosures and related evictions for borrowers with USDA Single Family Housing and Direct and Guaranteed loans through June 30, 2021.
- The VA has extended its moratorium on evictions and foreclosures for VA loans through June 30, 2021.
- Forbearance rights: Borrowers with certain types of federally-backed or federally-funded mortgages on their single-family homes are eligible to request a forbearance from payments for up to 180 days (6 months), with an option to extend for another 180 days. No late fees, interest, or penalties accrue during the forbearance period beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract. Here’s more information about the protections. The CARES Act did not include a date on when these protections expire so individual federal agencies have issued ongoing guidance and extensions of their forbearance policies.
- Here’s a site with links to the different federal loan programs and their forbearance policies and how to find out if your loan is covered by one of these programs.
If you know of any updates that should added to this list, please email CommunityAssistanceProject@law.utexas.edu.