Biden Administration Extends Ban On Home Foreclosures Thru June
Written by Site Hub on February 16, 2021
President Joe Biden has recognized that a majority of the nation that is still under economic hardship from the COVID-19 pandemic and decided to extend the ban on home foreclosures for federally backed mortgages by another three months.
Instead of ending on March 31, the program will extend to the end of June instead. This is the second time the ban has been extended – the first was on his first day of office, when he used an executive action to move the deadline to Jan 31.
The Federal Government will now allow borrowers to defer mortgage payments for another 6 months.
While this does help many American homeowners who are still suffering financially, it doesn’t address the CDC’s Federal moratorium on rental evictions, which ends on March 31st.
Source:
USA Today
