In a bid to stave off a surge in foreclosures, the Biden administration has unveiled new loan modification options for homeowners with government-backed mortgages
A separate program that allows homeowners with mortgages guaranteed by Fannie Mae and Freddie Mac to delay payments through forbearance lasts until Sept. 30.
The Biden administration said about 1.8 million Americans remain in forbearance today, more than a year after emergency safeguards were put in place to give homeowners the choice to suspend mortgage payments during the Covid-19 crisis.
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