WASHINGTON (AP) – President Joe Biden is extending a ban on housing foreclosures to June 30 to help homeowners struggling during the coronavirus pandemic.
The moratorium on foreclosures of federally guaranteed mortgages had been set to expire March 31. On his first day in office, Biden had extended the moratorium from Jan. 31.
Census Bureau figures show that almost 12% of homeowners with mortgages were late on their payments.
The White House says the coordinated actions announced Tuesday by the Departments of Housing and Urban Development, Veterans Affairs and Agriculture also will extend to June 30 the enrollment window for borrowers who want to request a pause or reduction in mortgage payments.