COVID-19 Update: HUD Provides Immediate Foreclosure and Eviction Moratorium

The U.S. Department of Housing and Urban Development (HUD) has authorized the Federal Housing Administration (FHA) to implement an immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages for the next 60 days. The moratorium is intended to address the impacts to the financial well-being of America’s individuals, families and businesses caused by the Coronavirus.

The guidance issued directs mortgage servicers to:

• Halt all new foreclosure actions and suspend all foreclosure actions currently in process; and

• Cease all evictions of persons from FHA-insured single-family properties.

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