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12.3.5.1 Freddie Mac Foreclosure Moratorium

Just UpdatedSignificant Law Change

On March 18, 2020, Freddie Mac announced a sixty-day moratorium on foreclosures due to COVID-19 through Freddie Mac Bulletin 2020-4. The initial moratorium only required a pause on foreclosure sales. As discussed above, the CARES Act broadened the scope of the moratorium to include initiating foreclosures and moving for judgment in active foreclosure cases.

Upon expiration of the moratorium and the CARES Act, Freddie Mac extended the moratorium to June 30, 2020, to August 31, 2020, to December 31, 2020, to January 31, 2021, and then until February 28, 2021.

Unlike the initial moratorium from Freddie Mac, which only covered a pause on foreclosure sales, the extended moratorium is broader. It states: “Servicers must suspend all foreclosure actions, including foreclosure sales, through December 31, 2020. This includes initiation of any judicial or non-judicial foreclosure process, move for foreclosure judgment or order of sale.”62 Freddie Mac exempts vacant and abandoned buildings from its moratorium.

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