\n<\/div><\/div>\n<\/div>\n<\/div>\n

By Kerry Smith<\/div><\/div>\n

Biden says he\u2019ll immediately ask the CDC and FHFA to extend eviction and foreclosure moratoriums until March 31, giving Congress time to pass new pandemic relief.<\/span><\/span><\/p>\n<\/div>\n

WASHINGTON \u2013 President Joe Biden and VP Kamala Harris issued a joint media release on actions the White House will take \u201chours after taking the oath of office.\u201d Some of those actions directly impact the nation\u2019s real estate industry, and some have an indirect effect.<\/span><\/span><\/p>\n

Actions planned by Biden<\/span><\/span><\/h3>\n
Extend the eviction and foreclosure moratoriums<\/strong><\/span><\/span>
Noting that 1 in 5 renters and 1 in 10 homeowners with a mortgage are behind on payments, Biden says that he\u2019ll ask the Centers for Disease Control and Prevention (CDC) to \u201cconsider immediately extending\u201d the federal eviction moratorium until at least March 31, 2021. He\u2019ll also ask Congress to provide rental assistance and extend it further.<\/span><\/span><\/p>\n
The release says he\u2019ll also \u201cask the Department of Veterans Affairs (VA), Department of Agriculture, and the Department of Housing and Urban Development (HUD), to \u201cconsider extending\u201d foreclosure moratoriums for federally guaranteed mortgages and continue accepting and approving forbearance applications for federally guaranteed mortgages until at least March 31, 2021.<\/span><\/span><\/p>\n
On Tuesday, the Federal Housing Finance Agency (FHFA) \u2013 the arm that oversees secondary mortgage lenders Fannie Mae and Freddie Mac \u2013 extended its foreclosure and eviction moratoriums until Feb. 28. Biden will also ask FHFA to extend that eviction and foreclosure moratorium.<\/span><\/span><\/p>\n
Extend the student loan pause<\/strong><\/span><\/span>
Student loans \u2013 often cited by millennial homebuyers as their greatest challenge in trying to buy a home \u2013 stands at over $1.5 trillion. Saying \u201cborrowers of all ages are often faced with a tough tradeoff between making their student loan payments, investing in their long-term financial future, or paying their bills,\u201d the White House says it will ask the Department of Education to \u201cimmediately extend the pause on interest and principal payments for direct federal loans until at least Sept. 30, 2021.\u201d<\/span><\/span><\/p>\n
Advancing racial equity and supporting underserved communities<\/strong><\/span><\/span>
Biden and Harris mentioned housing in a lengthy commitment to \u201cadvancing racial justice and building back better for communities who have been underserved, including people of color and Americans with disabilities, LGBTQ+ Americans, religious minorities, and rural and urban communities facing persistent poverty.\u201d<\/span><\/span><\/p>\n
They plan to close \u201cracial gaps in wages, housing credit, lending opportunities, and access to higher education.\u201d<\/span><\/span><\/p>\n
In an executive action planned for the first day, the equity initiative would, among other things:<\/span><\/span><\/p>\n
\u2022 Direct every federal agency \u2013 which includes departments such as HUD that focus on housing \u2013 to \u201cundertake a baseline review of the state of equity within their agency and deliver an action plan within 200 days to address unequal barriers to opportunity in agency policies and programs\u201d<\/span><\/span><\/p>\n
\u2022 \u201cStudy new methods that federal agencies can use to assess whether proposed policies advance equity\u201d<\/span><\/span><\/p>\n
The complete announcement \u2013 President-elect Biden\u2019s Day One Executive Actions Deliver Relief for Families Across America Amid Converging Crises<\/a> \u2013 is posted online.<\/span><\/span><\/p>\n
\u00a9 2021 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n
Go to Source<\/a>
\nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"
By Kerry Smith Biden says he\u2019ll immediately ask the CDC and FHFA to extend eviction and foreclosure moratoriums until March 31, giving Congress time to pass new pandemic relief. WASHINGTON \u2013 President Joe Biden and VP Kamala Harris issued a joint media release on actions the White House will take \u201chours after taking the oath of office.\u201d Some of those actions directly impact the nation\u2019s real estate industry, and some have an indirect effect. Actions planned by Biden Extend the eviction and foreclosure moratoriumsNoting that 1 in 5 renters and 1 in 10 homeowners with a mortgage are behind on payments, Biden says that he\u2019ll ask the Centers for Disease Control and Prevention (CDC) to \u201cconsider immediately extending\u201d the federal eviction moratorium until at least March 31, 2021. He\u2019ll also ask Congress to provide rental assistance and extend it further. The release says he\u2019ll also \u201cask the Department of Veterans Affairs (VA), Department of Agriculture, and the Department of Housing and Urban Development (HUD), to \u201cconsider extending\u201d foreclosure moratoriums for federally guaranteed mortgages and continue accepting and approving forbearance applications for federally guaranteed mortgages until at least March 31, 2021. On Tuesday, the Federal Housing Finance Agency (FHFA) \u2013 the arm that oversees secondary mortgage lenders Fannie Mae and Freddie Mac \u2013 extended its foreclosure and eviction moratoriums until Feb. 28. Biden will also ask FHFA to extend that eviction and foreclosure moratorium. Extend the student loan pauseStudent loans \u2013 often cited by millennial homebuyers as their greatest challenge in trying to buy a home \u2013 stands at over $1.5 trillion. Saying \u201cborrowers of all ages are often faced with a tough tradeoff between making their student loan payments, investing in their long-term financial future, or paying their bills,\u201d the White House says it will ask the Department of Education to \u201cimmediately extend the pause on interest and principal payments for direct federal loans until at least Sept. 30, 2021.\u201d Advancing racial equity and supporting underserved communitiesBiden and Harris mentioned housing in a lengthy commitment to \u201cadvancing racial justice and building back better for communities who have been underserved, including people of color and Americans with disabilities, LGBTQ+ Americans, religious minorities, and rural and urban communities facing persistent poverty.\u201d They plan to close \u201cracial gaps in wages, housing credit, lending opportunities, and access to higher education.\u201d In an executive action planned for the first day, the equity initiative would, among other things: \u2022 Direct every federal agency \u2013 which includes departments such as HUD that focus on housing \u2013 to \u201cundertake a baseline review of the state of equity within their agency and deliver an action plan within 200 days to address unequal barriers to opportunity in agency policies and programs\u201d \u2022 \u201cStudy new methods that federal agencies can use to assess whether proposed policies advance equity\u201d The complete announcement \u2013 President-elect Biden\u2019s Day One Executive Actions Deliver Relief for Families Across America Amid Converging Crises \u2013 is posted online. \u00a9 2021 Florida Realtors\u00ae Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":4655,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/4654"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=4654"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/4654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/4655"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=4654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=4654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=4654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}