Posted To: MND NewsWire

With the federal moratorium on mortgage foreclosures nearing an end, the White House has announced a series of steps to help homeowners who have suffered COVID-19 related financial hardships stay in their homes. Some 1.75 million homeowners (private sources put the number closer to 1.9 million) remain in forbearance programs with many now in the last three months of their 18 month eligibility. The White House previously extended the foreclosure moratorium for homeowners with government-backed mortgages to July 31 and the forbearance enrollment window through September 30, 2021 and provided up to three months of additional forbearance for certain borrowers. Over the course of the pandemic nearly 7.2 million households took advantage of forbearance. The relief announced on Friday is specific…(read more)

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Source: Mortgage News Daily