{"id":"FED-368","kind":"order","level":"federal","jurisdiction":"United States (VA-guaranteed home loans)","state":"","metro":"","industry":"","agency":"","eco":"","issuer":"VA, Loan Guaranty Service","authority":"38 U.S.C. ch. 37; 38 C.F.R. § 36.4319","instrument":"Circular 26-20-8","title":"Foreclosure Moratorium for Borrowers Affected by COVID19","dateIssued":"2020-03-18","effective":"2020-03-18 for sixty days","end":"2020-05-17 (extended by Circular 26-20-18); rescinded Apr. 1, 2021","startDate":"2020-03-18","endDate":"2020-05-17","quarters":["2020Q2"],"types":["OTHER"],"addressees":["VA loan holders and servicers"],"clause":"1. Purpose. The Department of Veterans Affairs (VA) strongly encourages mortgage servicers [to assist borrowers impacted by COVID-19]... 2. Moratorium on Foreclosure. Although the loan holder is ultimately responsible for [determining when to initiate foreclosure, VA strongly] encourages loan holders to establish a sixty-day moratorium beginning March 18, 2020, on [completing pending foreclosures or initiating new foreclosures on loans]. 3. Rescission: This Circular is rescinded April 1, 2021.","enforcement":"VA program guidance; the CARES Act § 4022(c)(2) made the same 60-day moratorium mandatory nine days later","functions":["SV","ML"],"notes":"","sourceUrl":"https://www.benefits.va.gov/HOMELOANS/documents/circulars/26_20_8.pdf","snapshot":"","fileExists":true,"fileBytes":130068,"grade":"primary","character":"","description":"","collection":"FED-B","url":"/library/FED-368","exhibitUrl":"/exhibit/FED-368","citation":"VA, Loan Guaranty Service, Circular 26-20-8 (Mar. 18, 2020) (Ex. FED-368)","stateName":"","related":["FED-369"]}