President Joe Biden has moved to prolong mortgage forbearance for another six months and extend the foreclosure moratorium until June 30. So reports CNBC.
The steps by the Federal Housing Agency will affect 70% of existing single-family home mortgages, according to the White House.
“The steps we are taking today will provide both immediate relief to those in desperate need of assistance and help more homeowners keep their homes and resume their payments when the pandemic subsides,” Matthew Ammon, acting secretary of Department of Housing and Urban Development, said in a press release.
Read the full article from CNBC.