VA Issues Circular Strongly Encouraging Foreclosure Moratorium

The Department of Veterans Affairs (VA) Circular Letter issued on March 18, 2020, Foreclosure Moratorium for Borrowers Affected by COVID19, strongly encourages mortgage servicers to establish a sixty-day moratorium on initiating new foreclosures or completing pending foreclosures.  VA explains that while the loan holder ultimately decides when to initiate foreclosure, the loan holder should consider the impact of COVID-19 and the additional risks an eviction action would have on Veterans and their families.