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News Now

Washington
Sandy foreclosure relief extended
WASHINGTON (2/4/13)--The Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac will extend expiring protections against foreclosure actions against homeowners whose properties were damaged or destroyed due to Hurricane Sandy.

The 90-day extension of the foreclosure moratorium applies to homeowners with properties in states declared major disasters by the president after the storm and it applies to the initiation of foreclosures and foreclosures already in process.

"Given the magnitude of this disaster, extending the moratorium on foreclosures and evictions will allow homeowners in the affected areas, and their servicers, the time needed to assess individual circumstances and options," said Federal Housing Finance Agency acting Director Edward DeMarco when announcing the extension late last week.

FHA is also suspending evictions of persons from properties secured by FHA mortgages in the affected counties through April 30.


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