(Photo: Al Drago/Bloomberg)
For the second time since he took office on January 20, President Joe Biden has extended the moratoriums on foreclosures and on deferral of payments (known as forbearance) of federally guaranteed mortgages for homeowners suffering economic hardship due to the coronavirus pandemic.
The foreclosure moratorium, which was scheduled to end March 31, has been extended to June 30, along with the enrollment period for borrowers who want to sign up for mortgage payment forbearance. Borrowers who entered forbearance on or before June 30, 2020, can qualify for as much as six months of additional payment forbearance, delivered in three-month increments.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
