Fannie Mae, Freddie Mac and FHA just announced they have extended their foreclosure and eviction moratorium for the second time pushing it out 2 months until August 31 2020. In my latest Housing Market 2020 Update: NEW Foreclosure and Eviction Moratorium Extension Video, I read the most recent press releases and give you my thoughts on what the future holds for foreclosures and evictions.
when does the foreclosure moratorium end? As of now, the moratorium ends on Aug 31 2020
can I be evicted for not paying rent? Yes but currently if are renting a property and haven’t been paying your lease or rent payment and the loan on the property is owned by Fannie Mae, Freddie Mac or FHA then you can’t be evicted until August 31st.
FHA Press Release – https://www.hud.gov/press/press_releases_media_advisories/HUD_No_20_081
FHFA Press Release – https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Extends-Foreclosure-and-Eviction-Moratorium-6172020.aspx
I hope this housing market update provides you with insight on foreclosure and eviction and what you should do if you need if you are behind on your payments and haven’t filed for mortgage forbearance. As I mentioned in the video, FHA not only discusses forbearance in their press release they also mention their partial claim option which tells me they are showing their willingness to help homeowners and tenants avoid both foreclosure and eviction.
Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? Do you believe there is a foreclosure wave coming after the moratorium ends? After watching this video, do you believe there is a real estate bubble or a housing market crash 2020 coming?
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