The Department of Housing and Urban Development announced that it is suspending foreclosures and evictions for mortgages insured by the Federal Housing Administration in effect until the end of April.
"The Federal Housing Finance Agency also ordered Fannie Mae and Freddie Mac to suspend foreclosures and evictions for any single-family mortgages they back for 'at least 60 days,' the agency said today," according to Politico.
FHFA Director Mark Calabria revealed that this action will help homeowners with an "enterprise-backed mortgage" keep their homes during these uncertain times. "FHFA earlier this month had announced that the government-sponsored enterprises would provide payment forbearance — allowing mortgage payments to be suspended for up to a year — to borrowers hit by the outbreak," Politico reported.
To learn more about the suspension of foreclosures and evictions for Fannie, Freddie and the HUD, click here.