Extension of Foreclosure Moratorium in Los Angeles County due to Wildfires

SOURCE www.breitbart.com
The Department of Housing and Urban Development (HUD) has extended the foreclosure moratorium on FHA single family homes in Los Angeles County due to wildfires. The extension is for 90 days, providing relief to over 100,000 FHA-insured mortgages.

Key Points

  • HUD extends foreclosure moratorium on FHA single family homes in Los Angeles County for 90 days
  • Over 100,000 FHA-insured mortgages to benefit from the extension
  • New end date of July 7 for the moratorium

Pros

  • Provides relief to over 100,000 FHA-insured mortgages in Los Angeles County
  • Supports families impacted by devastating wildfires

Cons

  • May lead to financial strain for lenders