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Evictions, Foreclosures On Hold in Harvey's Wake

Texans who have lost their homes due to damage from Hurricane Harvey could be eligible for special federal disaster assistance. In addition, Texans with federally backed mortgages who were already at risk of losing their homes for financial reasons before Harvey struck are getting a temporary reprieve from foreclosure.

foreclosures harvey image
Photo by Marcus Yam/Los Angeles Times/Getty Images

The Department of Housing and Urban development announced last week a 90-day moratorium on foreclosures on loans insured by the Federal Housing Administration (FHA) for people in the counties that have been declared disaster areas due to Harvey.

Fannie Mae and Freddie Mac also announced 90-day suspensions of foreclosures and evictions for homeowners in the disaster area.

Meanwhile, the Veterans Administration is encouraging holders of VA home loans to establish a similar 90-day moratorium on initiating new foreclosures in the affected disaster areas.

Learn more in this article that was first posted on Sept. 1:   http://www.aarp.org/home-family/your-home/info-2017/home-foreclosures-hurricane-harvey-fd.html?intcmp=HEA-HI-EOA3

 

 

 

 

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