WASHINGTON (WTVQ) – The U.S. Department of Agriculture has extended through July 31, 2021, the moratorium on foreclosures from properties financed by USDA Single-Family Housing Direct and Guaranteed loans.
The extension was announced Thursday.
These actions will bring relief to thousands of residents in rural America who have housing loans through USDA.
“The United States is recovering from a nationwide housing affordability crisis brought on by the COVID-19 pandemic. To support this recovery, USDA is taking this important action today to extend relief to the hundreds-of-thousands of individuals and families holding USDA Single-Family Housing loans,” USDA Deputy Under Secretary for Rural Development Justin Maxson said
“Actions like the one we’re announcing today are part of President Biden’s strategy to get Americans vaccinated and the economy back on track. Together, these coordinated actions will enable more homeowners with federally-backed mortgages to remain in their homes and build equity for years to come as we transition back to a functional housing market.”
Beyond July 31, 2021, USDA will continue to support homeowners experiencing financial hardship due to the pandemic by making loss mitigation options available to help keep them in their homes.
Homeowners and renters can also visit www.consumerfinance.gov/housing
for up-to-date information on their relief options, protections, and key deadlines from USDA, the Department of Housing and Urban Development, the Department of Veterans Affairs, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau.