Hurricane Milton destroyed large parts of Manasota Key, Fla., on Oct. 11. The Biden administration on Friday extended a foreclosure moratorium on areas ravaged by Hurricanes Milton and Helene until April 11. File Photo by Cristobal Herrera-Ulashkevich/EPA-EFE
Dec. 6 (UPI) — The Biden administration on Friday announced it has extended a foreclosure moratorium on homeowners holding federally insured mortgages in regions devastated by Hurricanes Helene and Milton. The Federal Housing Administration, part of the Department of Housing and Urban Development, announced it is extending a moratorium prohibiting lenders from foreclosing on FHA-insured mortgages in those areas through April 11. Advertisement
The moratoriums affect Single Family Title II forward and Home Equity Conversion Mortgages backed by the agency and issued to homeowners in presidentially declared major disaster areas.
The move extends automatic 90-day moratoriums that were issued three months ago in the wake of the storms and provide victims additional time to access governmental housing resources, consult with housing counselors and/or to rebuild their homes.
FHA extends foreclosure moratorium in hurricane-ravaged regions
