Freddie Mac and Fannie Mae announced they are both extending the suspension of all foreclosure sales through May 31, 2018 for mortgaged premises located in jurisdictions designated as Eligible Disaster Areas in Puerto Rico and the U.S. Virgin Islands as a result of Hurricane Irma or Hurricane María.
For the second time since Hurricane María devastated Puerto Rico and the U.S. Virgin Islands, the Federal Housing Administration (FHA) announced that the agency is extending its 180-day foreclosure moratorium for FHA-insured homeowners for an additional 60 days due to the extensive damage and continuing needs in these hard-hit territories.
A number of U.S. lawmakers sent a bipartisan letter to the U.S. Department of Housing and Urban Development requesting a 90-day extension of the foreclosure moratorium in Puerto Rico and the U.S. Virgin Islands ahead of the current March 19 deadline.
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