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Biden is continuing the US Covid initiative for mortgage relief until June 2021

The Biden administration released a statement this morning confirming the continuation of the Covid mortgage forbearance and foreclosure security scheme until June 2021. At the end of March, the measure was set to expire. This ensures that people at risk of losing their homes will not be made homeless because they will not make payments because of the coronavirus effect. The assertion says:

"Today’s actions directly benefit the 2.7 million homeowners currently in Covid forbearance and extend the availability of forbearance options for nearly 11 million government-backed mortgages nationwide. Communities large and small need this assistance.

1.Extend the foreclosure moratorium until 30 June, 2021 for homeowners

2.Extend the enrollment window for mortgage payment forbearance to 30 June, 2021 for homeowners who plan to seek forbearance

3.For homeowners that have reached forbearance on or before 30 June 2020, include up to six months of extended mortgage payment forbearance, in three-month intervals.

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