DALTX Real EstateDALTX Real EstateDALTX Real Estate
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Reading: HUD Suspends Foreclosures, Evictions As Coronavirus Keeps Businesses Closed
Share
Font ResizerAa
DALTX Real EstateDALTX Real Estate
Font ResizerAa
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Follow US
© DALTX. All Rights Reserved.
DALTX Real Estate > Department of Housing and Urban Development > HUD Suspends Foreclosures, Evictions As Coronavirus Keeps Businesses Closed
Department of Housing and Urban Development

HUD Suspends Foreclosures, Evictions As Coronavirus Keeps Businesses Closed

2 Min Read
SHARE
Sign_of_the_Times-Foreclosure
Photo: Jeff Turner

The economic impact of the novel coronavirus can’t be understated, as businesses limit service in order to slow the virus’ spread. Restrictions on public gatherings and service-oriented businesses have put a significant amount of the workforce out of work. Several government organizations are suspending evictions and foreclosures to keep workers in their homes despite their inability to pay.

Considering that approximately 43 million households or 109 million people in the U.S. are renters, according to the latest numbers from the National Multifamily Housing Council, that’s a lot of missed rent payments should job losses continue to climb.

According to President Trump’s Wednesday announcement, the Department of Housing and Urban Development will be suspending foreclosures and evictions through the end of April.

HUD later announced its official policy, stating that the Federal Housing Administration is enacting an “immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages” for the next 60 days.

That matches the policy announced Wednesday by the Federal Housing Finance Agency.

The FHFA announced Wednesday that it is directing Fannie Mae and Freddie Mac to suspend foreclosures and evictions for “at least 60 days.”

Ben Lane, HousingWire

In Dallas County, where the limits on public gathering spaces have all but shuttered restaurants, bars, and entertainment districts, city and county leaders have also moved to stop evictions as widespread layoffs drastically cut household incomes. Other Texas cities, including Houston and Austin, have also taken measures to keep its citizens housed as millions in the state self-quarantine.

Additionally, the Texas Workforce Commission has waived the 10-day investigation period to receive unemployment benefits. This applies to both wage workers and the self-employed. High demand due to the large numbers of suddenly jobless has created outages and long waits to apply via the online portal.

For real estate industry professionals, the Texas Real Estate Commission has enacted procedures and best practices to address COVID-19 concerns. The agency is considering waiving some license requirements as agents look to keep their businesses afloat.

Homecorp’s Renovation Revives White Rock Lake Villa With Updated Outdoor Spaces and New Kitchen
Opendoor Launches Cash-Backed Offers For Loan Customers
Designer of George W. Bush’s Crawford Compound Speaks at Fort Worth AIA Design Talk Tonight
The Alaska Town So Small (Almost) Everyone Lives Under the Same Roof
Baby Boomers Are Upping The Ante on Active Adult Communities
TAGGED:CoronavirusCOVID-19Dallas real estate newsevictionsFannie Mae And Freddie MacForeclosures
Share This Article
Facebook Email Copy Link Print
Previous Article No Handshakes, But Plenty Of Soap At Dallas Open Houses
Next Article BREAKING: Bank of America Offering Mortgagors ‘Pause’ in Payments
Popular News
Frozen Pipes

Dallas Builders Association Offers Advice on Coping with Winter Plumbing Emergencies

$400K And Up is a Diverse Price Range in Dallas
Janis Forse Wells Joins Ebby’s Little White House
This South Dallas Family Home Offers Room To Flex
The Best Dallas Open Houses To Tour This Weekend For $530K Or Less
about us

DaltxRealEstate.com is the largest real estate blog and the only one in North Texas.

Links

  • Privacy Policy
  • Terms of Service
  • Contact Us
  • Paid Guest Post Submission

Categories

  • Wednesday WTF
  • East Dallas
  • Monday Morning Millionaire
  • Upon Closer Inspection

Get Involved

  • Advertise With Us
  • Write for Us: Submit Guest Post

Find Us on Socials

© DALTX. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?