Biden to extend foreclosure moratorium, mortgage forbearance

Evictions not included in announcement

National /
Feb.February 16, 2021 02:43 PM
Biden's announcement extends the foreclosure moratorium until June. (Getty)

Biden’s announcement extends the foreclosure moratorium until June. (Getty)

 

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

The move would prevent home foreclosures and allow for delayed mortgage payments. It would also offer six months of additional mortgage forbearance for those who enroll on or before June 30, Politico reported.

Some 2.7 million homeowners with government-backed mortgages are enrolled in the mortgage forbearance program, which remains available to another 11 million owners.

The actions would extend an order originally enacted by the Trump administration and expanded by the Biden administration on President Joe Biden’s first day in office.

The eviction and foreclosure moratoriums had been in place until March. The eviction ban was not mentioned in Tuesday’s announcement.

The announcement by the White House increases pressure on Congress to pass Biden’s $1.9 trillion Covid-19 relief package. If passed in its entirety, the proposal would extend a national moratorium on evictions and foreclosures through Sept. 30.

[Politico] — Sasha Jones





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