President Biden will sign an executive order Tuesday aimed at helping Americans facing foreclosure amid the COVID-19 pandemic.
Biden's Cabinet departments will organize to extend the current moratorium on foreclosure and extend the window for people to apply for mortgage forbearance, the White House detailed in a Tuesday preview of the order. The move comes as millions of Americans remain unemployed and 12 percent of homeowners with mortgages have missed payments, CBS News reports via Census Bureau figures.
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