Scott Turner, the secretary of the U.S. Department of Housing and Urban Development (HUD), announced on Tuesday a 90-day foreclosure moratorium for Federal Housing Administration (FHA)-insured single-family mortgages in the areas of Kerr County, Texas, that have been devastated by recent severe storms, including wind and flood damage.

The 90-day moratorium prohibits mortgage servicers from initiating or completing foreclosure actions on FHA-insured single-family forward mortgages or the Home Equity Conversion Mortgage (HECM) reverse program in the Kerr County Presidentially Declared Major Disaster Area (PDMDA).

“Our hearts break as we witness the catastrophe unfolding in Texas,” Turner said in details ⇒

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