The Federal Housing Administration (FHA) is extending the foreclosure and eviction moratorium for single family FHA-insured mortgages through February 28, 2021. Single family borrowers with FHA-insured mortgages can request an initial COVID-19 forbearance from their mortgage servicer to defer or reduce their mortgage payments for up to six months (with the option to extended for an additional six months after that).

The Federal Housing Finance Agency (FHFA) has extended its moratoriums on single-family foreclosures and real estate-owned evictions until January 31, 2021 and multifamily housing until March 31, 2021. 

These moratoriums protects homeowners with mortgages with federally backed mortgages from foreclosures and evictions. These suspensions were originally set to expire on Dec. 31, but have been extended due to the ongoing economic hardship caused by the coronavirus. Those experiencing a financial hardship due to coronavirus can request a forbearance, which would extend the time limit of your mortgage and give you more time to pay. Those who request a forbearance could get up to 180 days extra to pay their mortgage, with the possibility of extending for an additional 180 days at the request of the borrower. There will be no additional fees, penalties or additional interest (beyond the scheduled amounts) added to your account during this period of time.

In order to request this forbearance you must contact your loan servicer, however you do not need to submit additional documentation to qualify other than your claim of pandemic-related financial hardship.

If you are a homeowner in Louisiana and are worried about losing your home, please contact LaFHAC’s Homeownership Protection Director Giazzlyn Duncan: gduncan@lafairhousing.org.