Biden to extend mortgage relief, foreclosure moratoriums
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The Biden administration announced on Tuesday it will extend a federal moratorium on home foreclosures and aid for Americans who are struggling to keep up with their mortgage payments during the ongoing coronavirus pandemic.
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This move marks the second time Biden has lengthened the ban, which was initially enacted during the Trump administration.
"The COVID-19 pandemic has triggered a housing affordability crisis," the White House said in a statement. "Today, 1 in 5 renters is behind on rent and just over 10 million homeowners are behind on mortgage payments. People of color face even greater hardship and are more likely to have deferred or missed payments, putting them at greater risk of eviction and foreclosure."
Originally, the ban was set to expire at the end of March, alongside the U.S. Centers for Disease Control and Prevention's (CDC) federal moratorium on evictions for not paying rent.
The eviction moratorium was not included in the most recent actions, though a White House official reportedly told USA Today that they have been meeting with stakeholders to discuss the next steps on the eviction policy.