The Federal Housing Administration declared an immediate foreclosure and eviction moratorium for all FHA-insured single family mortgages, including HECMs, for a 60-day period. Details were provided in Mortgagee Letter 2020-04.
In a press release announcing the new policy, FHA Commissioner Brian Montgomery said, “This is an uncertain time for many Americans, particularly those who could experience a loss of income. As such, we want to provide FHA borrower households with some immediate relief given the current circumstances. Our actions today make it clear where the priority needs to be.”