Moratoriums on evictions and foreclosures that were put into effect at the height of the coronavirus pandemic have been extended for a second time through August 31, 2020.
This applies to single-family federal backed mortgages.
The Federal Housing Finance Agency said that they will continue to evaluate the situation and update their policies as needed.
However, there is good news that indicates the housing market is not lost.
“The rate at which people are putting their mortgage payments on pause has declined for eight consecutive weeks.
Other data even shows that the amount of Americans with forbearance plans has actually begun to decline.”