FHFA further extends foreclosure and REO eviction moratoriums
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FHFA further extends foreclosure and REO eviction moratoriums
On February 25, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac would extend the foreclosure and real estate owned (REO) eviction moratoriums from March 31, 2021 to June 30, 2021. The foreclosure moratorium applies only to Government Sponsored Enterprises (GSEs) single-family mortgages, while the REO eviction moratorium applies to properties acquired by the GSEs through foreclosure or deed-in-lieu of foreclosure transactions. The extension announcement is welcome news for counties as they work to address the housing affordability and insecurity crisis that has been exacerbated by the COVID-19 pandemic.