CONTINUOUSLY UPDATED – Much has changed since the launch of myriad COVID-related mortgage relief programs and eviction moratoriums last March. Today we face a hodgepodge of application deadlines and program expiration dates fast approaching, although further extensions remain possible.

In March 2020, as COVID-19 ravaged the U.S. economy, many states, and eventually the U.S. Centers for Disease Control (CDC), issued eviction moratoriums. And government mortgage loan backing bodies instituted forbearance relief for those suddenly unable to make their monthly loan payments due to loss of income. The maximum forbearance period was initially six months, although an additional six months of relief was added as that deadline approached. The forbearance programs were not automatic – consumers needed to reach out to their lenders to enroll, and re-enrollment was required to take advantage of the additional time period. Non-government mortgage loan backing bodies generally followed the lead of their government counterparts.

As we approach March 2021, the various eviction moratoriums and forbearance programs are set to begin expiring. Here’s where things stand as of February 3 (information continuously updated):

  • CDC Eviction Moratorium – Expired (applies to renters)
    ** Original moratorium expired July 31
    ** New moratorium, effective August 3 for “counties with substantial or high rates of COVID-19 transmission” and originally set to run through October 3, overturned by U.S. Supreme Court August 26
  • CARES Act Foreclosure/Eviction Moratorium – Expires February 28 (applies to FHA, VA, USDA, Fannie Mae and Freddie Mac backed mortgages – about 70 percent of homeowners)
    ** Foreclosure moratorium expired
    ** Eviction moratorium expired
  • Mortgage Forbearance – Must be applied for by the borrower:
    • FHA/USDA Mortgages – Application deadline February 28
      ** Now extended to continue until the end of the COVID-19 National Emergency
      ** Between 6 and 18 months of forbearance available, depending on initial forbearance start date (a foreclosure advisor can guide you through the specific options that apply to your situation)
    • VA Mortgages – Application deadline April 1
      ** Now extended to continue until the end of the COVID-19 National Emergency
      ** Between 6 and 18 months of forbearance available, depending on initial forbearance start date (a foreclosure advisor can guide you through the specific options that apply to your situation)
    • Fannie Mae/Freddie Mac Mortgages – No application deadline at this time
      ** Between 12 and 18 months of forbearance available, depending on initial forbearance start date (a foreclosure advisor can guide you through the specific options that apply to your situation)
  • Minnesota’s “Requested” Moratorium on Foreclosures – Expired (applies to non-government-backed mortgages)

Obviously, navigating the specifics of a given individual’s situation with all of these different variables could be daunting. And as the Biden Administration gets its work off the ground, it’s possible these deadlines and expiration dates could be pushed further out. Fortunately, our Default Prevention Advisors are well-versed in the intricacies of this evolving situation, and they stand ready to assist consumers in navigating this process. The most important thing to remember is that forbearance is not automatic. It must be applied for – both the initial, and if needed the secondary, rounds of relief. To find an advisor near you, go to www.hocmn.org/help.

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