WASHINGTON–The Biden Administration has announced it will extend the foreclosure moratorium and relief programs available through the federal government through June 30 as the coronavirus pandemic lasts longer than many had expected—or hoped.
White House press secretary Jen Psaki said the extension will build on the executive order President Biden signed on his first day in office on Jan. 20, which extended the eviction moratorium through March 31, as CUToday.info reported earlier.
Psaki said that more than 10 million homeowners are behind on mortgage payments due to the economic effects of the pandemic, and that the move was the administration’s effort to bring “urgent action relief to American families struggling to keep a roof over their heads,” Fox Business reported.
The Department of Housing and Urban Development, the Department of Veterans Affairs and the Department of Agriculture this week “will expand and extend foreclosure relief programs” through June 30. CUToday.info has additional information on the Department of Agriculture’s plans in a separate news item.
Psaki also said that the administration will also add up to six months of additional forbearance for those who applied on or before June 20, 2020, Fox Business added.