Federal Sandy Foreclosure Moratorium Extended

A program that gives Hurricane Sandy impacted homeowners and renters a moratorium on foreclosure and eviction notices, gets an extension. According to the Star Ledger, the forbearance program was scheduled to expire at the end of this month but will be extended for a year from when homeowners apply, according to HUD Secretary Shaun Donovan Thursday.

Donovan also says borrowers may also be eligible for an FHA streamlined loan modification to avoid large lump sum payments when the forbearance expires.