On June 24, 2021, the Federal Housing Finance Agency (FHFA) announced the extension of the Fannie Mae and Freddie Mac moratorium on single-family foreclosures from June 30, 2021 to July 31, 2021. The moratorium on evictions from single-family homes owned by Fannie Mae or Freddie Mac also is extended until July 31, 2021. The announcement does not address evictions from multifamily properties subject to a Fannie Mae or Freddie Mac loan.
Fannie Mae addresses the extension of the foreclosure moratorium in an update to Lender Letter 2021-02, and Freddie Mac addresses the extension in Bulletin 2021-23. Fannie Mae and Freddie Mac advise that the foreclosure moratorium does not apply to properties determined to be vacant or abandoned.
Copyright © 2023 by Ballard Spahr LLP.
(No claim to original U.S. government material.)
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.
This alert is a periodic publication of Ballard Spahr LLP and is intended to notify recipients of new developments in the law. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.