Forbearance + Foreclosure Moratorium & Eviction Moratoriums EXTENDED!

Forbearance + Foreclosure Moratorium & Eviction Moratoriums EXTENDED! / It happened AGAIN! The foreclosure moratorium and eviction moratorium got extended again to avoid a housing crash. In addition, the loan forbearance (i.e. mortgage loan forbearance) request deadline was also extended for homeowners with a FHA single family mortgage. This is your latest housing market update and the latest real estate market news!

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Options after Mortgage Forbearance Ends
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For the latest real estate market update, according to the Federal Housing Finance Agency "...Fannie Mae and Freddie Mac (the Enterprises) will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until February 28, 2021." The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. In addition, qualified borrowers with a financial hardship that affects their ability to pay their mortgage may be eligible for temporary forbearance of up to 12 months, whether their hardship was caused by COVID-19 or not.

According to HUD, the eviction and foreclosure moratoriums on federally-backed single family mortgages was extended through March 31, 2021. In addition, the new deadline to request an initial forbearance on a FHA mortgage was extended to March 31, 2021, allowing borrowers to request a 6 month forbearance and then a 6 month extension, if needed.

For the latest mortgage update, these extensions are very timely because I noticed that Black Knight recently reported that the number of people exiting forbearance continues to slow, with only 41,000 borrowers leaving their plans this week. Comment below: do you think forbearances will cause a housing market crash?
Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash or do you think the housing market 2021 will continue to surge? Or is there a housing bubble?

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

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Видео Forbearance + Foreclosure Moratorium & Eviction Moratoriums EXTENDED! канала Jason Walter