Stakeholder Announcement: USDA Announces Guaranteed Housing Foreclosure and Eviction Relief

Name
USDA National Guranteed Housing Division
City
Washington
Release Date
Mar 19, 2020

WASHINGTON, March 19, 2020The purpose of this announcement is to inform lenders of a foreclosure and eviction moratorium for all USDA Single-Family Housing Guaranteed Loan Program (SFHGLP) loans for a period of 60 days, in connection with the Presidentially declared COVID-19 National Emergency.

Effective immediately, borrowers with USDA guaranteed loans are subject to a moratorium on foreclosure for a period of 60 days. The moratorium applies to the initiation of foreclosures and to the completion of foreclosures in process.

 Similarly, evictions of persons from properties secured by USDA guaranteed loans are also suspended for a period of 60 days. 

 In addition, deadlines of the first legal action and reasonable diligence timelines are extended by 60 days.

 Loan servicers seeking to assist SFHGLP borrowers may also pursue any of the relief options referenced in Chapter 18 of the program Handbook found at: https://www.rd.usda.gov/files/hb-1-3555.pdf.

 Questions regarding program policy and this announcement may be directed to the National Office Division at sfhgld.program@usda.gov or (202) 720-1452. 

Thank you for your support of the Single-Family Housing Guaranteed Loan Program! 

 Links to websites:

 SFHGLP Lending Partner Webpage: https://www.rd.usda.gov/page/sfh-guaranteed-lender

 SFHGLP webpage: https://www.rd.usda.gov/programs-services/single-family-housing-guaranteed-loan-program

 USDA LINC Training and Resource Library:   

https://www.rd.usda.gov/programs-services/lenders/usda-linc-training-resource-library

Procedure Notices: https://www.rd.usda.gov/resources/directives/procedures-notices

USDA is an equal opportunity provider, employer and lender.