02/19

Home foreclosures for federally-backed mortgages will be receiving an additional three-month extension to June 30^th. The original date was set to expire on March 31^st.

Under President Biden’s administration, struggling homeowners can request a mortgage payment forbearance, which would allow a pause or a reduction on their mortgage payments. Borrowers can also defer mortgage payments for an additional six months.

Currently, 2.7 million homeowners are enrolled in COVID-19 forbearance plans.

The change for homeowners has not been (so far) applied to renters. The Centers for Disease Control and Prevention’s federal moratorium on evictions is currently set to expire on March 31^st.

For housing options, check out Consumer Finance’s housing website.

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