At-risk owners just can’t be taken off right up until Dec. 31 – prolonged from Aug. 31 – if Fannie or Freddie owns the home finance loan a REO ban applies to concluded foreclosures.
WASHINGTON – The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will prolong moratoriums on one-relatives foreclosures and actual estate owned (REO) evictions right up until at the very least Dec. 31, 2020.
The foreclosures moratorium applies to Fannie Mae or Freddie Mac-backed, one-relatives mortgages only, according to FHFA. The REO eviction moratorium applies to houses that Fannie Mae and Freddie Mac have obtained, either by foreclosures or deed-in-lieu of foreclosures transactions.
In both instances, the resident owners – or previous owners in the scenario of concluded foreclosures or deed-in-lieu transactions – cannot be evicted by the stop of the calendar year. Prior to Thursday’s announcement, the eviction moratoriums had