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Administration Extends Foreclosure Moratorium, Mortgage Forbearance

Administration Extends Foreclosure Moratorium, Mortgage Forbearance

Posted: Feb 17 2021
President Biden has announced an extension of certain foreclosure moratoriums and mortgage forbearance programs that were set to expire in March. The announcement applies to loans guaranteed by the Department of Veterans Affairs or Department of Agriculture, and those insured by the Department of Housing and Urban Development.

The foreclosure moratorium for those homeowners will now be extended through June 30, 2021. Those agencies also extended the date by which borrowers must request COVID-19 forbearance to June 30, 2021. Finally, borrowers who entered forbearance before June 30, 2020, can now request two additional forbearance extensions in three-month increments.

To read more, visit: https://www.whitehouse.gov/briefing-room/statements-releases/2021/02/16/fact-sheet-biden-administration-announces-extension-of-covid-19-forbearance-and-foreclosure-protections-for-homeowners/
 

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