Hot Topics :
Biden extends pandemic help for homeowners, renters wait

Biden extends pandemic help for homeowners, renters wait

by AP  |  Published on February 16, 2021

WASHINGTON (AP) — President Joe Biden is extending a ban on housing foreclosures to June 30 to help homeowners struggling during the coronavirus pandemic.

The moratorium on foreclosures of federally guaranteed mortgages had been set to expire on March 31. On his first day in office, Biden had extended the moratorium from Jan. 31. Census Bureau figures show that almost 12% of homeowners with mortgages were late on their payments.

The White House says the coordinated actions announced Tuesday by the Departments of Housing and Urban Development, Veterans Affairs and Agriculture also will extend to June 30 the enrollment window for borrowers who want to request mortgage payment forbearance — a pause or reduction in payments — and will provide up to six additional months of forbearance for borrowers who entered forbearance on or before June 30 of last year.

The White House says more than 10 million homeowners are behind on mortgage payments and Biden’s actions are to help keep people in their homes amid “a housing affordability crisis” triggered by the pandemic. It says “homeowners will receive urgently needed relief as we face this unprecedented national emergency.”

Biden’s administration says extending forbearance policies “will provide critical support to homeowners of color, who make up a disproportionate share of borrowers” having trouble paying their loans because of hardships related to the pandemic.

The actions announced Tuesday don’t address a federal moratorium through March 31 on evictions of tenants who’ve fallen behind on rent.

Subscribe to The Red Report

Get your daily dose of news & info from The Red Report

Sign up to The Red Report for FREE and receive our daily emails.

?>

The Red Report: Real Conservative News

Are you tired of the same old Liberal slanted news? Join over 500,000 Americans who get their daily dose of Conservative Politics delivered right to their inbox. Make America Great again with a free market, states’ rights, and small government.

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.