The Department of Housing and Urban Development has extended a moratorium on evictions and foreclosures on home mortgages it insures against default, protecting many first-time home buyers, the New York Times reported. The moratorium will now run through Feb. 28. It had been set to expire at the end of the month. The foreclosure moratorium applies to mortgages backed by the Federal Home Administration, a division of the federal housing department. In recent years, F.H.A. guaranteed mortgages have become a major way for first-time buyers to acquire homes. The biggest underwriters of F.H.A. mortgages have been so-called nonbank lenders that are not affiliated with a major bank. HUD is also similarly extending the deadline for cash-strapped homeowners to seek a reprieve from making full mortgage payments for up to six months.
