45
BIDEN
ADDRESSES
FORECLOSURES
WITH EO
On the first day of his administration,
President Joe Biden issued a slate of executive
orders, including one that called on federal
departments and agencies to extend their
bans on evictions and foreclosures through at
least the end of March. As with the previous
extensions, this act is designed to provide
ongoing relief to homeowners and renters
feeling the negative financial impact of the
ongoing COVID-19 pandemic.
According to the order, both housing
foreclosures and evictions would be delayed
until at least March 31, 2021.
In a statement, Acting Federal
Housing Commissioner Janet Golrick
said, "As President Biden promised, his
new administration is quickly addressing
the widespread needs of a nation that is in
urgent need of meaningful assistance to
begin combatting the effects of COVID-19.
Immediately safeguarding borrowers with
HUD-insured or guaranteed mortgages is an
important first step in tackling larger, systemic
housing challenges that must be overcome."
Earlier that same week, FHFA also
extended their moratoriums on single-
family foreclosures and real estate owned
(REO) evictions through February 28. e
moratoriums were previously set to expire on
January 31.
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