The U.S. Department of Housing and Urban Development will halt evictions and foreclosures for owners with FHA loans through the end of the year, reports Politico.
The announcement comes a day after the Mortgage Bankers Association reported nearly 16% of FHA loans are delinquent, the highest level in records going back to 1979.
FHA loans are used by many minorities, lower-income and first-time homebuyers because low down payments make homeownership more affordable.
The ban applies to roughly 8.1 million homeowners, according to Politico.
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{Matzav.com}
