Okay we all know that we are in the middle of some strange times that we have never seen before. Reality is that the reason for the disruption may be different, but market disruptions are a part of the regular cycles of the economy. The headlines may be different, but uncertainty and nervousness, and financial stress and hardship for many are real.
I just wanted to bring a little information to you to share what is happening from the real estate market. Real estate transactions are still taking place even with the restricted movements of day to day living. People are still buying and selling homes.
REALTORS, Lenders, Inspectors, Appraisers, Title Companies and all of us involved in the process of helping your dream of homeownership come true – we are still working for hard for you.
On Wed, March 18th, HUD in conjunction with President Trump’s Coronavirus Task Force announced that they will cease evictions and foreclosures on FHA Single Family Homes for 60 days to allow for some relief on financially stressed homeowners.
Now we know that this won’t solve all of the blowback problems that many homeowners are feeling right now trying to make ends meet, but imagine if you were the one to receive that call or letter saying that instead of having to be forced out of your home due to foreclosure you were being given an additional 60 days to try and work things out. That’s huge.