Housing regulator extends Fannie Mae and Freddie Mac’s foreclosure and eviction moratorium

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The Federal Housing Finance Agency has extended the foreclosure and eviction moratorium for homes with mortgages backed by Fannie Mae and Freddie Mac . The moratorium is now in effect until December 31, 2020 – originally they were supposed to expire at the end of August. The foreclosure moratorium only applies to single-family mortgages only, while REO eviction moratorium applies to properties that are acquired by Fannie or Freddie through foreclosure or deed-in-lieu of foreclosure transactions. The moratorium is expected to cost the two government-sponsored enterprises between $1.1 billion and $1.7 billion, and it protects more than 28 million homeowners across the country.
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