FHFA extends eviction and foreclosure moratorium to June 30

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WASHINGTON — The Federal Housing Finance Agency is extending by over a month its moratorium for foreclosures and evictions on single-family loans backed by Fannie Mae or Freddie Mac until at least June 30.

The moratorium — intended to help borrowers affected by the coronavirus and — was previously set to expire May 17.

“During this national health emergency, no one should be forced from their home," FHFA Director Mark Calabria said in a statement. “Extending the foreclosure and eviction moratoriums protects homeowners and renters with an Enterprise-backed mortgage and provides certainty for families.”

The Coronavirus Aid, Relief and Economic Security Act, which Congress passed in March, allowed for a 60-day moratorium on foreclosures and evictions on federally backed mortgages.

“During this national health emergency, no one should be forced from their home," said FHFA Director Mark Calabria.

The FHFA's announcement came one day after the agency said it would provide borrowers struggling to stay current with an additional payment deferral option. Starting July 1, homeowners will have the option to make up to a year of payments missed under forbearance at the end of their loan term.

The agency said it would “continue to monitor the coronavirus situation and update policies as needed.”

Federal Housing Administration Commissioner Brian Montgomery said earlier this month that his agency was also inclined to extend its foreclosure and eviction moratorium, but has not yet officially done so.