What to Do BEFORE the Foreclosure and Eviction Moratorium Ends
Don’t wait for the foreclosure and eviction moratorium to end. Here’s advice for homeowners and renters from 12 real estate and housing experts.
By Debt.com
President Biden has signed an executive order asking federal agencies to extend the foreclosure and eviction moratorium. The order seeks to extend moratoriums that were set to expire at the end of January through March 31, 2021.[1] These moratoriums protect renters from eviction and homeowners from foreclosure due to non-payment. The current moratoriums are set to expire on February 28, 2021.
Extending the foreclosure and eviction ban is just one part of the administration’s plan to rescue homeowners and renters. President Biden has asked Congress to pass a new COVID-19 relief bill that would provide an additional $35 billion in relief for renters and Americans facing homelessness.[2]
That adds to the $25 billion in rent relief that Congress approved in December as part of the second stimulus. The rental relief funds would effectively help renters cover payments that may have been missed since March 2020. Missed payments have not been forgiven, meaning that many renters owe significant back rent that eventually…