Rachel Labush, staff attorney for Community Legal Services (CLS), said the organization is hopeful that mortgage servicers will not rush to foreclose on Philadelphia homeowners before the new CFPB protections go into effect.

The moratorium on foreclosures that expired at the end of July only applied to the roughly two-thirds of borrowers with government-backed mortgages: FHA, VA, Fannie Mae and Freddie Mac loans.

“At least one third of borrowers in Philadelphia have non-government backed loans, a category that includes most home equity loans and many subprime loans from before the 2008 housing crash,” Labush said. “No moratorium has been effect for those borrowers, yet fewer than 200 total foreclosures were initiated against owner-occupied properties in Philadelphia in the first seven months of 2021.”

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The federal foreclosure moratorium has ended. Here’s what to do to save your home