E R U T U F R A E N E C N THE A R A E B R O F OF
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By M ICHEL L E G A R CIA G IL B ERT, G IL B ERT G A RCIA G ROU P P. A .
eginning March 27, 2020, when President Trump signed the CARES Act into law, a moratorium, now extended through January 31, 2021, was placed on foreclosures and evictions for loans owned by Fannie Mae and Freddie Mac, and now extended through February 28, 2021 for VA, FHA and USDA loans, affecting about twothirds of the single-family residential lending market. The Federal Housing Administration, the U.S. Department of Veterans Affairs, the Department of Agriculture, Fannie Mae and Freddie Mac issued foreclosure and eviction moratoria that cover households living in properties insured or guaranteed by these agencies, which
14 MORTGAGE BANKER | FEBRUARY 2021
