January 2021 Update: Extension Of Federally Backed Loan Foreclosures And Evictions Until January 31, 2021
Federally Backed Loans, specifically, Fannie Mae, Freddie Mac, the VA, FHA, and USDA have extended the moratoriums on foreclosures enacted earlier this year. Single-family homeowners with loans backed by Fannie, Freddie, or the VA are now protected from foreclosure through at least Jan. 31. The FHA moratorium will remain in effect until February 28.
In addition to the CARES Act moratorium, the governor of New Jersey issued an executive order in March that prohibits foreclosure-related evictions. Under the order, homeowners cannot be removed from a residence even if a final judgment of foreclosure has been entered and a sheriff’s sale of the property has taken place. The order will remain in effect until two months after the governor declares the COVID-19 crisis has ended. In addition, more than 150 private lenders in the state have agreed to offer relief to homeowners impacted by COVID-19.
Federally backed loans include:
- Fannie Mae
- Freddie Mac
- Reverse Mortgages
At The Law Office of Ira J. Metrick, we can help you answer the following questions:
- Is my foreclosure on hold?
- Is my sheriff sale on hold?
- Is my lender offering any assistance?
- Is my mortgage loan federally backed or “enterprise backed”?
To find out if your loan is owned by Fannie Mae, you can got to: Fannie Mae Loan Lookup
To find out if your loan is owned by Freddie Mac, you can go to: Freddie Mac Loan Lookup
To find out if your loan is backed by the Federal Housing Authority (FHA), you can call: 1-800-CALL-FHA (800-225-5342)
You can also try calling your lender to ask if your mortgage loan is federally backed.
Contact Ira J. Metrick, Esq. if you need assistance.
Read our related blog posts for more information about NJ mortgage forbearance due to COVID-19: