According to local media reports in the United States, on February 16 local time, the White House announced that U.S. President Biden had extended the foreclosure ban until June 30 to help homeowners suffering from economic difficulties in the coronavirus epidemic.
According to reports, on his first day in office, U.S. President Biden extended the federal government’s house foreclosure ban, which had expired on January 31.
Given that more than 10 million homeowners across the United States are currently facing a “housing burden crisis” under the impact of the epidemic, Biden has once again announced the extension of the foreclosure ban for three months.
Americans can buy houses in the form of mortgage payment. Some buyers use the houses they buy as collateral because they have no assets to mortgage.
If the buyer cannot repay the loan on time for some reason, the house that exceeds the expiration date will be “foreclosed”, that is, the mortgaged house will be stopped, and the house will be owned by the lender.
According to data from the U.S. Census Bureau, 12% of homeowners with mortgages have paid their mortgage late during the epidemic. But it is worth noting that the extension order announced by the White House does not include how to further help tenants affected by the epidemic.
And the U.S. government’s ban on evictions to protect rent-delinquent tenants will also expire on March 31