On July 11th, the USDA released a new Letter announcing the continuation of the foreclosure moratorium as last discussed in the June 7th Letter. In addition, the Letter reinstates and extends the timeframe that borrowers have to correspond in writing to their lender of their intentions for resolving the delinquency.

The moratorium on foreclosure for properties in the FEMA Declared Disaster Areas as eligible for Individual Assistance is extended until August 31st 2006 with previously outlined restrictions still in place.

Additional items discussed in the June 7th Letter are reiterated in this Letter.

To view the Letter in its entirety please click on the following link.

 Foreclosure Moratorium Extensions for Borrowers Affected by Hurricane Katrina Rita Wilma 7-11-2006.pdf