FHA Extends Options For Single Family Borrowers Financially Impacted By COVID-19

Washington – On December 21, 2020, the Federal Housing Administration (FHA) announced it is extending the foreclosure and eviction moratorium for single-family FHA-insured mortgages for an additional two months, through February 28, 2021. The FHA is also extending through February 28, 2021, the deadline for single-family borrowers with FHA-insured mortgages to request an initial COVID-19 forbearance from their mortgage servicer to defer or reduce their mortgage payments for up to six months, which can be extended for an additional six months. In addition, today FHA also extended multiple temporary provisions for lenders and servicers to allow them to continue doing FHA business despite social distancing considerations.