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Financial Services Law Insights and Observations

VA extends Covid-19 foreclosure and eviction moratorium

Federal Issues Covid-19 Department of Veterans Affairs Military Lending Foreclosure Mortgages Evictions

Federal Issues

On January 29, the Department of Veterans Affairs issued Circular 26-21-2, which further extends foreclosure and eviction relief for borrowers affected by Covid-19 (previously covered here). Specifically, all properties secured by VA-guaranteed loans, including those previously secured by VA-guaranteed loans but currently in the VA’s REO (real estate owned) portfolio, are subject to a moratorium on foreclosure and eviction through March 31, 2021. With the exception of abandoned or vacant property, the moratorium applies to the initiation of foreclosures, the completion of foreclosures in process, and evictions.

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