By Annie Nova | CNBC
Struggling homeowners received some welcome news Tuesday, with the Biden administration announcing it will extend forbearance and foreclosure relief.
Wondering if you qualify and how to seek out the help?
Here’s what we know so far.
Homeowners struggling amid the coronavirus pandemic received some welcome news Tuesday, with the Biden administration announcing it will extend forbearance and foreclosure relief programs.The White House said that the move will benefit the 2.7 million homeowners currently in Covid forbearance and extend the availability of forbearance options for around 11 million other government-backed mortgages nationwide.“Since the crisis is going on much longer than anyone anticipated, it’s only appropriate to extend remedies that we know are working,” said Sarah Gerecke, an associate professor of planning at New York University. Many of those relief options were scheduled to expire next month.
