WBK Industry News - Federal Regulatory Developments

VA Extends Foreclosure Moratorium for Veteran Borrowers Affected by COVID-19

The VA recently issued Circular Letter 26-20-18 to extend the foreclosure moratorium for Veteran borrowers affected by the COVID-19 emergency.  The foreclosure moratorium, imposed by the Coronavirus Aid, Relief, and Economic Security Act protects borrowers with federally-backed mortgage loans from any judicial or non-judicial foreclosure process for a 60-day period that began on March 18, 2020.  The Circular extends that period through June 30, 2020 for Veteran borrowers with properties secured by VA-guaranteed loans subject to the moratorium on foreclosures.  The Circular is rescinded on April 1, 2021.