Biden extends foreclosure moratorium, delays mortgage payments until end of June

Foreclosure sign at a house.
(Image credit: Justin Sullivan/Getty Images)

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.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

Biden has issued 30 executive orders throughout the first month of his presidency, with several aimed at tackling the COVID-19 pandemic and its economic effects. The Trump administration first paused foreclosures and evictions last March, and Biden extended the pause most recently on the first day of his presidency. But the eviction moratorium is still set to expire March 31, and this order makes no mention of it.

Explore More

Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.