The Biden administration on Thursday extended the foreclosure moratorium for federally-backed mortgages to July 31 while also announcing that the Federal Housing Administration, the U.S. Department of Agriculture and the Department of Veterans Affairs will expand borrower relief next month.
The Centers for Disease Prevention and Control also extended the eviction moratorium through the end of next month, and the White House announced that the ban for properties with federally-backed apartment loans in particular will be enforced. (The courts have delivered varying opinions on the legality of the CDC’s ban. The matter is still in litigation.) The Biden administration will also push to distribute $42 billion in federally-authorized rental assistance through state housing agencies.
The announcement suggests the Biden administration wants to focus additional relief efforts on mortgages that government agencies guarantee in order to reduce foreclosures when moratoria end. A
The announcement additionally
A Consumer Financial Protection Bureau proposal to