The Federal Housing Finance Agency (FHFA) has approved an extension of the nationwide ban on evictions of private homeowners (REO) until September.
The agency has demanded that Fannie Mae and Freddie Mac extend the REO eviction moratorium, which applies to properties that were acquired by GSE through a foreclosure or deal instead of a foreclosure, for another two months. The current moratorium expires on 31 July.
The move came just a day before the CDC’s eviction ban was scheduled to end. The FHFA also said the expansion was part of its efforts to help needy homeowners and renters during the pandemic. Last week, the Biden administration unveiled a new mortgage assistance program aimed at reducing their principal and interest payments by up to 25%.