The Biden administration today announced that it’s extending the federal ban on home foreclosures and mortgage forbearance programs throughout June.
This, in turn, offers relief to millions of homeowners who are struggling financially as a result of the COVID-19 pandemic.
The action extends the foreclosure suspension for homeowners with federally-backed loans until June 30.
The moratorium was previously set to expire on March 31.
On his first day in office, Biden had extended the moratorium from the end of January.
Under the Coronavirus Aid, Relief, and Economic Security, CARES, Act passed last March, homeowners could initially request up to one year of forbearance relief.