Extension of Foreclosure Moratorium for Los Angeles Fire Victims

SOURCE www.breitbart.com
The Trump administration is extending a foreclosure moratorium for an additional 90 days to victims of the Los Angeles fires. The foreclosure moratorium will apply to loans insured by the Federal Housing Administration (FHA).

Key Points

  • Foreclosure moratorium extended for 90 days
  • Applies to FHA-insured mortgages in the Los Angeles County PDMDA
  • Private lenders also offering forbearance

Pros

  • Helps victims of the Los Angeles fires by providing more time to deal with foreclosure issues
  • Shows commitment to supporting Americans impacted by natural disasters

Cons

  • Forbearance from private lenders may require full payment of the amount owed after the forbearance period ends