Effective immediately, HUD released a Mortgagee Letter (ML 2017-15) granting a ninety-day extension of the initial foreclosure moratoriums related to Hurricane Harvey, Irma and Maria. The extension is applicable to properties located in eligible FEMA-designated Individual Assistance Areas that are located within Presidentially-Declared Major Disaster Areas for the aforementioned hurricanes. HUD is instructing lenders and servicers to suspend all foreclosure actions against borrowers until the following dates:
Hurricane Harvey – February 21, 2018
Hurricane Irma – March 9, 2018
Hurricane Maria – March 19, 2018
Proctor will continue to monitor regulatory requirements and will provide updates as they develop.