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1.5.5.3 Foreclosure Moratorium

Significant Law Change

HUD is granting a 180-day moratorium on foreclosures after the fall 2017 hurricanes and a 90-day moratorium after the California wildfires.176 The moratorium is effective as of the date of the disaster declaration for a particular area. The moratorium applies both to the initiation of foreclosures and foreclosures already in progress.177

The HUD Handbook also requires that a mortgagee “must take no action to initiate or complete foreclosure proceedings, after expiration of a disaster-related foreclosure moratorium, if such action will jeopardize the full recovery of a hazard or flood insurance settlement.”178

Footnotes