WASHINGTON — Today, the Federal Housing Finance Agency (FHFA) and the Department of Housing and Urban Development (HUD) announced the extension of their respective foreclosure and eviction moratoriums through Dec. 31. Originally set to expire on Aug. 31, the moratoriums apply to single family mortgages insured by the Federal Housing Administration (FHA) or backed by Fannie Mae or Freddie Mac.
FHFA’s eviction moratorium applies only to residents of multifamily properties acquired by the GSEs through foreclosure or deed-in-lieu of foreclosure. Renters in GSE-backed multifamily properties in forbearance are also entitled to enhanced protections; while in forbearance, GSE-backed properties may not evict tenants for nonpayment of rent.
NHC President and CEO David M. Dworkin welcomed the decision to extend protections for homeowners financially impacted by COVID-19 through the end of the year, while also recognizing the need for enhanced rental assistance to support all households.
“NHC appreciates FHFA and HUD’s work to keep individuals and families in their homes during this unprecedented time, but recognizes the overdue need for congressional action to support struggling renter households” said Dworkin.
On Aug. 21, a group of 31 diverse housing organizations, including NHC, sent a letter calling on congressional leaders and the administration to pass a stimulus package to protect renters, property owners and the stability of the nation’s rental housing stock.
Dworkin said, “We look forward to continuing to work with FHFA and HUD to ensure the financial well-being of American homeowners, while maintaining the health of the housing market, and are hopeful that members of Congress can reach agreement on rental assistance when they return to Capitol Hill.”
About NHC: The National Housing Conference has been defending the American Home since 1931. Everyone in America should have equal opportunity to live in a quality, affordable home in a thriving community. NHC convenes and collaborates with our diverse membership and the broader housing and community development sectors to advance our policy, research and communications initiatives to effect positive change at the federal, state and local levels. Politically diverse and nonpartisan, NHC is a 501(c)3 nonprofit organization.