The U.S. Department of Agriculture onThursday (6/24/21) extended through July 31, 2021, the moratorium on foreclosures from properties financed by USDA Single-Family Housing Direct and Guaranteed loans. These actions will bring relief to hundreds-of-thousands of residents in rural America who have housing loans through the 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.”
For more information about the protections provided under this moratorium extension, see the: FACT SHEET: Biden-Harris Administration Announces Initiatives to Promote Housing Stability By Supporting Vulnerable Tenants and Preventing Foreclosures
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.