President Biden extends mortgage relief, ban on home foreclosures through June
The foreclosure moratorium for homeowners was set to expire March 31. It will now continue for three more months.
President Joe Biden on Tuesday extended a ban on home foreclosures for federally backed mortgages by three months and expanded a mortgage relief program in a push to stabilize the nation's housing affordability crisis amid the COVID-19 pandemic.
The foreclosure moratorium was set to expire March 31 and is now in place through June 30. It's the second time Biden has extended the ban after he used one of his record number of Day One executive actions to push back a previous Jan. 31 end date.
The Biden administration Tuesday also extended the enrollment window to request a mortgage payment forbearance – which allows borrowers to pause or reduce mortgage payments – until June 30. That program also was scheduled to end in March.