Renters and borrowers who face being kicked out of their homes received at least a six-week reprieve on Thursday.
The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac are extending their moratorium on foreclosures and evictions until at least June 30 as homeowners and renters struggle with the coronavirus pandemic.
The foreclosure moratorium was set to expire on Sunday. It only applies to single-family mortgages backed by Fannie and Freddie.
“During this national health emergency, no one should be forced from their home,” FHFA Director Mark Calabria said. “Extending the foreclosure and eviction moratoriums protects homeowners and renters with an Enterprise-backed mortgage and provides certainty for families.”
FHFA said it will “continue to monitor the coronavirus situation and update policies as needed.”