FHA extends foreclosure moratoriums for certain properties in Puerto Rico & U.S. Virgin Islands

Federal Issues FHA Disaster Relief Mortgages Foreclosure

On May 16, the Federal Housing Administration (FHA) released Mortgagee Letter ML 2018-03 (ML 2018-03), which extends the 180-day foreclosure moratorium on FHA-insured properties in Puerto Rico & the U.S. Virgin Islands affected by Hurricane Maria for an additional 90 days. As previously covered by InfoBytes, in March, FHA extended the moratorium an additional 60 days to May 18. The foreclosure moratorium is now in effect, for properties that meet certain conditions, until August 16.

Find continuing InfoBytes coverage on disaster relief here.