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On March 1, 2018, the Department of Housing and Urban Development (HUD) announced that the Federal Housing Administration (FHA) has extended the foreclosure moratorium for borrowers in Puerto Rico and the U.S. Virgin Islands affected by Hurricane Maria. NAR previously asked HUD for relief for these borrowers and is very supportive of HUD's actions.
According to the official Mortgagee Letter 2018-02, borrowers in the Hurricane Maria related Presidentially-Declared Major Disaster Areas of Puerto Rice and the U.S. Virgin Islands will be given an additional 60 days of relief from any foreclosure activity. The moratorium is set to expire on May 18, 2018.
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