The daily business briefing: February 17, 2021

Biden extends moratorium on mortgage foreclosures, fast-food workers strike in 15 cities for $15 minimum wage, and more

McDonald's workers rally
(Image credit: David McNew/Getty Images)

1. Biden extends mortgage-foreclosure moratorium

President Biden signed an executive order Tuesday extending the moratorium on mortgage foreclosures by three months to June 30, a policy intended to help people unable to keep up with their mortgage payments during the COVID-19 pandemic. Biden also ordered government agencies to extend the window for people to apply for mortgage forbearance, the White House said. With millions of Americans still unemployed due to the pandemic, 12 percent of homeowners with mortgages have missed payments. Biden's order will let anyone with a federally guaranteed mortgage apply for a pause or reduction in their payments until June 30, and will exempt them from foreclosure. The Trump administration paused foreclosures and evictions last March, and Biden extended the policy on his first day in office.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.