The House Interim Committee on Housing heard a proposal Monday to extend that moratorium. Don't Neglect These 6 Maintenance Tasks—or Else, Debunked! ©1995-2020 National Association of REALTORS® and Move, Inc. All rights reserved.realtor.com® is the official site of the National Association of REALTORS® and is operated by Move, Inc., a subsidiary of News Corp. Clare Trapasso is the deputy news editor of realtor.com. Previously, these protections were set to expire at the end of December. Homeowners, who are often in better financial shape, are likely to fare better. What sectors to watch in 2021, ‘Real Housewives of New Jersey’ star Melissa Gorga finally sold her ‘Scarface’ inspired mansion for $2.5 million. The Federal Housing Finance Agency (FHFA) announced Wednesday that borrowers at risk of losing their housing due to the pandemic would be able to stay in their homes until January 31, 2021, without fear of facing eviction or foreclosure. Get quick and easy access to your home value, neighborhood activity and financial possibilites. Many homeowners at risk of foreclosure can breathe a little easier — for another month, at least. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. Andrew M. Cuomo on Monday announced he will extend the eviction moratorium - set to expire Oct. 1 - to next year, continuing protections for … That is thanks to a recent move by the Department of Housing and Urban Development; the agency has announced an extension to coronavirus relief measures intended to help … So if the government is offering forbearance, then some lenders will follow suit. Foreclosure filings decline as moratorium is extended through January . States with the highest foreclosure rates were Florida (one in every 7,109 housing units with a foreclosure filing); Illinois (one in every 7,285 housing units); Oklahoma (one in every 8,128 housing units); New Mexico (one in every 9,236 housing units); and Delaware (one in every 9,310 housing units). ALBANY — Gov. Their households earned a median $40,500 in 2018—almost half of the $78,000 for homeowner households, according to 2018 U.S. Census Bureau data. Home Buyers Reveal: 'What I Wish I Had Known Before Buying My First Home', Selling Your Home? And while it could get extended, that's not guaranteed. While these extensions are likely to bring relief to millions of Americans, they only continue to protect a fraction of those struggling as the pandemic has upended the economy, leaving millions still out of work. The list may not be complete, as state and local governments continue to adopt new emergency measures at a fast pace. 8 Myths About Renting You Should Stop Believing Immediately, 6 Ways Home Buyers Mess Up Getting a Mortgage, 6 Reasons You Should Never Buy or Sell a Home Without an Agent, Difference Between Agent, Broker & REALTOR, Real Estate Agents Reveal the Toughest Home Buyers They’ve Ever Met, The 5 Maintenance Skills All Homeowners Should Know, Click for complete coronavirus coverage from realtor.com, U.S. Suspends Most Foreclosures Amid Coronavirus Uncertainty, Caution: A Housing Crisis Could Be Coming for These 10 Cities, Millions of Americans Could Soon Become Homeless as Protections Expire, Nearly 7 million to 14 million households are at risk of eviction, Where the Yule Log Burns Bright: 11 Homes With 7 Fireplaces or More, Tattoo Artist Kat Von D Buys Historic Mansion in Indiana, Planning a Remodel in 2021? FHA Mortgage Relief Extended Into 2021. FHA’s Single Family foreclosure and eviction moratorium has been in place since March 18, 2020, and continues to apply to homeowners with FHA-insured Title II Single Family forward and Home Equity Conversion (reverse) mortgages. And least not at first. U.S. Properties With Foreclosure Filings Dip From Last Month As Foreclosure Moratorium Is Extended To 2021. "American homeowners should not be forced from their homes while they are seeking help.". City Council passed legislation providing renters with a defense to evictions occurring within six months of the termination of the mayor's eviction moratorium. “Extending Fannie Mae and Freddie Mac's foreclosure and eviction moratoriums through January 2021 keeps borrowers safe during the pandemic," said Director Mark Calabria. U.S. Properties with Foreclosure Filings Dip from Last Month as Foreclosure Moratorium is Extended to 2021. The extension was originally set to expire on December 31. Copyright © 2020 MarketWatch, Inc. All rights reserved. 5 Reasons You’ll Want a Veteran-Friendly Real Estate Agent, How the COVID-19 Pandemic Has Forever Changed the Process of Selling a House. Among the 220 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in November 2020 were Champaign, IL (one in every 3,636  housing units with a foreclosure filing); Shreveport, LA (one in every 3,806 housing units); Macon, GA (one in every 3,947 housing units); Davenport, IA (one in every 4,038 housing units); and Evansville, IN (one in every 4,296 housing units). The Federal Housing Finance Authority (FHFA) and Department of Housing and Urban Development (HUD) announced on Dec. 2 it will extend its foreclosure and eviction moratorium through Jan. 2021… U.S. Properties With Foreclosure Filings Dip From Last Month As Foreclosure Moratorium Is Extended To 2021. Bank repossessions see a 22 percent decline from last month Lenders foreclosed (REO) on a total of 2,010 U.S. properties in November 2020, down 22 percent from last month and down 86 percent from a year ago. And most homeowners who need to … HUD to extend foreclosure ban protecting 8.1 million people until 2021. Why was the moratorium extended? Contact ATTOM for Foreclosure Data Licensing Details.Visit RealtyTrac.com for Foreclosure Search and Listings. Thankfully, this gives homeowners an extra month to prepare or execute the plan they had in place. You can also contact MarketWatch Customer Service via our Customer Center. For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. HUD oversees the FHA. Contact the source provider Comtex at editorial@comtex.com. Millions of homeowners with FHA mortgages in need of mortgage relief during the coronavirus pandemic are getting an extension on their options to avoid foreclosure. The two-month moratoriums cover only renters and homeowners living in single-family homes with FHA-issued mortgages. Contact her at clare.trapasso@realtor.com. If you have a financial hardship brought on by the pandemic, you’ll be allowed to defer or make reduced payments for six months, which you can extend for another six months. Peace of mind to the more than 2,200 counties nationwide, and Mac. This article extension to the pandemic have been in place on March 18, 2020 Before... Hud official sites announced this week that they have approved a two-month extension to the more than 90 percent the. Grants access to your home cnet Starting Jan. 1, 2021 year over year the Associated Press moratorium... “ this extension gives peace of mind to the COVID-19 related foreclosure and eviction moratorium was to... 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