Foreclosure Moratorium and Forbearance Period Extended

President Joe Biden recently announced an extension of the foreclosure moratorium and the forbearance period for mortgages backed by HUD, VA and USDA through June 30. Separately, the Federal Housing Finance Agency extended the foreclosure and eviction moratorium period until March 31, as well as forbearance period by three months for mortgages held by Fannie Mae and Freddie Mac.

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Read. The. Forms.

Each year the PAR Legal Hotline fields a fair number of calls with questions can be answered simply by taking the time to carefully read some of the most common transactional forms every so often.

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When a Sale Is Terminated, What Happens to That Inspection?

The Pennsylvania Seller Disclosure Law requires sellers to disclose known material defects of a residential property to potential buyers, but it does not matter how a seller learns of that material defect. This includes material defects identified through a buyer’s inspection when the transaction does not ultimately close. In this situation, the seller’s property disclosure must be updated.

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