SFH Direct Loan and Grant Programs
January 20, 2021
USDA Extends Eviction Moratorium, Foreclosure Moratorium, and Mortgage Forbearance Deadline to March 31, 2021
U.S. Department of Agriculture (USDA) extends the foreclosure and eviction moratorium for Single Family Housing Direct Loan Borrowers through March 31, 2021.
The moratorium applies to:
- Initiation of foreclosures or completion of foreclosures in process, excluding vacant and abandoned properties.
- Evictions of borrowers from properties financed with a USDA direct home loan
In addition, Forbearance/Moratorium assistance for up to 180 days (total of 1 year) is available for Direct Loan borrowers experiencing financial hardship due, directly or indirectly, to the COVID-19 emergency.
- Borrowers call and verbally request a payment moratorium. Borrowers have the option to cancel the moratorium at any time or request the moratorium be extended up to an additional 180 days.
- At the end of the 1-year time period, these 502 Direct borrowers can request the moratorium be extended up to an additional year making it a total of 2 years. However, the borrower must submit a moratorium application and meet eligibility criteria to be granted that last year.
For more information on USDA Rural Developmentās actions to support customers directly impacted by COVID-19 visit https://www.rd.usda.gov/coronavirus
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