Politico

Biden extends foreclosure moratorium and mortgage forbearance through June


The Biden administration announced Tuesday that it would extend the foreclosure moratorium and mortgage forbearance through the end of June.

The actions would block home foreclosures and offer delayed mortgage payments until July, as well as offer six months of additional mortgage forbearance for those who enroll on or before June 30.

The actions are an extension of an order that was originally enacted under the Trump administration in March of last year. President Joe Biden — as one of 17 orders he signed on his first day in office — initially extended the eviction and foreclosure moratoriums through the end of March.

The eviction moratorium remains in effect through March but was not included in the actions announced Tuesday.

The departments of Housing and Urban Development, Veterans Affairs and Agriculture will work together to enact the actions, according to the announcement from the White House. Resources for homeowners will be consolidated on the Consumer Financial Protection Bureau’s website.

The White House announcement also pushed for quick passage of Biden’s $1.9 trillion Covid-19 relief package, arguing the bill would provide states with $10 billion to assist homeowners with mortgage and utility costs. The Biden administration said Tuesday that 2.7 million homeowners are enrolled in the Covid-19 mortgage forbearance program, which remains available to an additional 11 million government-backed mortgages.

Continue

About the author

Lisa

Leave a Comment