The Federal Housing Finance Agency (FHFA) has approved the extension of the nationwide ban on single-family real estate owned (REO) evictions through September.
The agency required Fannie Mae and Freddie Mac to extend the REO eviction moratorium, which applies to properties that have been acquired by the GSEs through foreclosure or deed-in-lieu of foreclosure transactions, for another two months. The current moratorium was set to expire on July 31.
The move came just a day before the Center for Disease Control’s eviction ban was scheduled to lapse. The FHFA also said that the extension was part of its efforts to help struggling homeowners and renters during the pandemic. Last week, the Biden administration unveiled a new mortgage relief program designed to lower their principal and interest payments by up to 25%.