Biden administration extends ban on foreclosures for federally-backed mortgages


The White House on Tuesday said the Biden administration is extending a moratorium on foreclosures for people with federally-backed mortgages through June 30.

President Biden had previously extended the foreclosure moratorium through March.
The administration also announced it is extending an enrollment window for requesting payment forbearance until June 30 and that it will provide up to six months of additional payment forbearance for people who got relief on or before June 30 of last year.

The White House estimated that more than 10 million homeowners are behind on mortgage payments during the coronavirus pandemic.

The actions on Tuesday did not include an announcement about extending the federal eviction moratorium for renters, which is due to expire at the end of March.

The White House said Congress should pass Mr. Biden‘s $1.9 trillion coronavirus relief package so that struggling homeowners with mortgages in the private market can get assistance.

Sign up for Daily Newsletters

View original Post


Please enter your comment!
Please enter your name here