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FHFA and FHA Extend Single-Family Foreclosure and Eviction Moratoriums Through Dec. 31, 2020

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The Federal Housing Finance Agency has announced that Fannie Mae and Freddie Mac will extend their moratorium on single-family foreclosures and evictions at least through Dec. 31, 2020. The foreclosure and eviction moratorium applies to Fannie Mae and Freddie Mac-backed single-family mortgages only. The current moratorium was set to expire on Aug. 31.

Separately, HUD announced that the Federal Housing Administration (FHA) is also extending its foreclosure and eviction moratorium an additional four months through Dec. 31, 2020, for home owners with FHA-insured single-family mortgages.

FHA’s single-family foreclosure and eviction moratorium extension applies to home owners with FHA-insured Title II Single Family forward and Home Equity Conversion (reverse) mortgages, and continues to direct mortgage servicers to:

  • Halt all new foreclosure actions and suspend all foreclosure actions currently in process, excluding legally vacant or abandoned properties; and
  • Cease all evictions of persons from FHA-insured single-family properties, excluding actions to evict occupants of legally vacant or abandoned properties.

Both FHFA and FHA said these moves were made to protect borrowers and renters who are at risk of losing their home due to the COVID-19 pandemic.

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Fredericksburg Area Builder's Association

The Fredericksburg Area Builders Association (FABA), chartered in 1968 and incorporated in 1980 has hundreds of members both builders and associates. These members represent thousands of people whose livelihoods are directly tied to the building and building-related industries. FABA, a tax-exempt trade association, is affiliated with the National Association of Home Builders (NAHB) and the Home Builders Association of Virginia (HBAV). With its main purpose to create and maintain a favorable climate for the growth and development of the building industry, the Fredericksburg Area Builders Association seeks to develop and maintain high professional business standards with the ultimate goal of providing home ownership to all individuals and families in our area. Centrally located between Washington, D.C., the nation’s capital, and Richmond, Virginia, the state capital, FABA serves the historic City of Fredericksburg, VA area including the surrounding counties of Spotsylvania, Stafford, King George, Caroline, Culpeper and Orange.

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