US President Joe Biden has extended a ban on housing foreclosures to 30th June in order to help homeowners struggling during the coronavirus pandemic.
The moratorium on foreclosures of federally guaranteed mortgages had been set to expire on 31st March.
Point to be noted that Biden had extended the moratorium from 31st Jan on his first day in office.
Census Bureau figures have indicated that almost 12% of homeowners with mortgages were late on their payments.
On Tuesday, the White House announced the coordinated actions by the Departments of Housing and Urban Development, Veterans Affairs, and Agriculture will also extend to 30th June the enrollment window for borrowers who want to request mortgage payment forbearance (a pause or reduction in payments) and will provide up to 6 additional months of forbearance for borrowers who entered forbearance on or before 30th June 2020.The White House officials also said that at least 10 million homeowners are behind on mortgage payments and Biden’s actions are to help keep people in their homes during a housing affordability crisis triggered by the deadly pandemic.
The actions announced Tuesday don’t address a federal moratorium through 31st March on evictions of tenants.It is noteworthy that the Press Secretary of White House, Jen Psaki also declined to indicate whether President Joe Biden supported criminal charges against former President Donald Trump and others involved in the Capitol insurrection.
