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Section 4022 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized a nationwide moratorium on foreclosures of mortgages that are federally backed.
While set to expire on March 31, 2021, FHFA announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until June 30, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by an Enterprise through foreclosure or deed-in-lieu of foreclosure transactions.
The term “federally-backed mortgages”, includes loans insured or guaranteed by FHA, VA, USDA, or loans that are owned or securitized by Fannie Mae or Freddie Mac. It does not apply to private loans.
The only exception to this moratorium is for vacant or abandoned properties.
The Freddie Mac loan lookup website showing the subject loan is not held by either GSE.
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