The Department of Housing and Urban Development (HUD) announced on Wednesday (6/17) that the Federal Housing Administration is providing a two-month extension of its foreclosure and eviction moratorium through August 31st, 2020. This is the second extension the FHA has enacted since the COVID-19 pandemic began, the first was on May 14th, when the moratorium was extended to June 30th. The single-family foreclosure and eviction moratorium extension applies to homeowners with FHA-insured Title II Single-Family forward and Home Equity Conversion mortgages. HUD Secretary Dr. Ben Carson said, “While the economic recovery is already underway, many American families still need more time and assistance to regain their financial footing,” said HUD Secretary Ben Carson. “Our foreclosure and eviction extension means that these families will not have to worry about losing their home as they work to recover from the financial impacts of COVID-19.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.