Biden Administration Announces Extension of Foreclosure Moratorium, COVID-Related Housing Initiatives

The Biden Administration recently announced several initiatives aimed at stabilizing homeowners and preventing evictions following unanticipated changes to the housing market caused by the COVID-19 pandemic.  As part of these initiatives, HUD, VA, and the USDA will extend their existing foreclosure moratorium for federally-backed mortgages for one final month, until July 31, 2021.

The announced initiatives also include:

  • urging state and local courts to participate in eviction diversion efforts;
  • highlighting that American Rescue Plan funds for state and local governments and for emergency rental assistance can be used to fund eviction diversion plans, including counseling, navigator, and legal services;
  • convening a White House summit for immediate eviction prevention plans;
  • accelerating and broadening state and local delivery of emergency rental assistance by providing clarity on bulk payments, aiding Americans experiencing homelessness, and overcoming language and disability barriers;
  • ensuring that the 30-day eviction notice requirement for federally-backed properties is enforced; and
  • reinforcing the Administration’s commitment to enforcement of the Fair Housing Act.