On February 12, 2018, NAR sent a letter to HUD Secretary Carson. The letter supports the Department of Housing and Urban Development’s (HUD) foreclosure moratorium for Federal Housing Administration (FHA) insured properties in the Presidentially-Declared Major Disaster Areas (PDMDA) associated with Hurricanes Harvey, Irma, and Maria. The moratoriums have prevented further catastrophe in victims’ lives and severe negative impact to the financial soundness of FHA. Unfortunately, many borrowers, primarily in Puerto Rico, Florida, the U.S. Virgin Islands, and Houston, Texas, continue to deal with emotional and financial stresses as a result of the hurricanes. NAR believes it is in the best interest of FHA and the affected communities to extend the foreclosure moratoriums.
NAR Support Letter to HUD Secretary Carson Regarding Hurricane Foreclosure Moratoriums on FHA Loans
Issue Date: February 12, 2018
On February 12, 2018, NAR sent a letter to HUD Secretary Carson. The letter supports the Department of Housing and Urban Development’s (HUD) foreclosure moratorium for Federal Housing Administration (FHA) insured properties in the Presidentially-Declared Major Disaster Areas (PDMDA) associated with Hurricanes Harvey, Irma, and Maria. The moratoriums have prevented further catastrophe in victims’ lives and severe negative impact to the financial soundness of FHA. Unfortunately, many borrowers, primarily in Puerto Rico, Florida, the U.S. Virgin Islands, and Houston, Texas, continue to deal with emotional and financial stresses as a result of the hurricanes. NAR believes it is in the best interest of FHA and the affected communities to extend the foreclosure moratoriums.
Download Letter