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Friday, 5 March 2021

Foreclosure Moratorium

Credit: KIMT
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Foreclosure Moratorium
Foreclosure Moratorium
Giving homeowners a break

Portion of next week.

President biden making a bold move to help homeowners struggling to make their mortgage payment during the pandemic by extending a ban on foreclosures.

Kimt new three's jessica bringe joins us live from rochester with more one the ban.

Jessica.

George ?

"* the ban on housing foreclosures is extended until june 30th..

Meaning more homeowners will be able to stay in their homes and figure out how to make payments..

Olmsted county says it receives calls from around two homeowners a day looking for assistance..

Housing director dave dunn says this moratorium should allow homeowners to reach out to lenders and hopefully find a solution to stay in their because of the moratorium the lender may be more willing to work with you now than they would be once the foreclosure moratorium ends.

So, because they don't have that tool of foreclosure they may be willing to do a loan modification or to do something else to kind of help extend people's terms previously the moratorium on foreclosures was set to expire on march 31st.

Live in rochester jessica bringe thank you jessica census bureau figures show that almost 12% of homeowners with mortgages have been late on their payments during this pandemic.

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