Eviction and Foreclosure Moratoriums on Federally-backed Single-family Mortgages Extended Through March 31, 2021

HUD has implemented President Biden’s requests to immediately extend eviction and foreclosure moratoriums

By Jeff Sorg, OnlineEd Blog

(January 25, 2021)

US Dept. of HUD – Acting U.S. Housing and Urban Development (HUD) Secretary Matthew E. Ammon today announced that the Department has implemented President Biden’s requests to immediately extend eviction and foreclosure moratoriums on federally-backed single-family mortgages through March 31, 2021, to provide meaningful support to homeowners struggling financially as a result of the COVID-19 pandemic:

“President Biden asked the Department of Housing and Urban Development (HUD) to consider an immediate extension of eviction and foreclosure moratoriums on federally-backed single-family mortgages. To provide much-needed economic relief and support to working families, HUD has implemented the President’s requests.

“Millions of Americans are at risk of eviction or foreclosure because of the COVID-19 pandemic and corresponding economic crisis, and the Biden Administration is pursuing a comprehensive strategy to prevent widespread housing loss. As we have seen throughout the pandemic, this looming wave of evictions and foreclosures disproportionately impacts communities of color. These executive actions are a critical first step to ensure that families hit hard by the economic crisis will not be forced from their homes during their time of need.

“Specifically, HUD has extended the Federal Housing Administration (FHA) eviction and foreclosure moratorium until March 31, 2021 and extended the Public and Indian Housing (PIH) eviction and foreclosure moratorium until March 31, 2021.

“Failing to prevent widespread evictions and foreclosures would lead to untold hardship for families and overwhelmed emergency shelter capacity, increasing the likelihood of COVID-19 spread in our communities. The Biden Administration is committed to using the tools at its disposal and working with Congress to help struggling households keep a roof over their heads. These agency actions support the Administration’s broader strategy by immediately extending nationwide restrictions on evictions and foreclosures.”

 

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About Jeff Sorg

Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center's CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.