Late Wednesday, President Joe Biden signed 17 executive orders, including a further extension of the eviction and foreclosure moratorium to at least March 31, more than a month more than agencies previously agreed upon.
According to Housing Wire, Brian Deese, Biden’s choice to lead the National Economic Council, said the president will call upon the Centers for Disease Control and Prevention and the departments of Veterans Affairs, Agriculture and Housing and Housing and Urban Development, to aid in an immediate extension of their federally backed mortgages.
“These emergency measures are important,” Deese said. “There are more than 11 million mortgages guaranteed by the VA, Department of Agriculture and HUD that would be affected by the extension of the foreclosure moratorium.”
Just a day prior, the Federal Housing Finance Agency extended moratoriums on single-family foreclosures and real estate owned evictions for loans backed by Fannie Mae and Freddie Mac until Feb. 28, 2021—the fifth such extension. HUD also previously extended its moratoriums for loans backed by the Federal Housing Administration through the end of February.