Banks in the U.S. have been banned from foreclosing on homes since early 2020, due to the federal government’s efforts to assist homeowners feeling the financial pinch of the pandemic. The mortgage foreclosure moratorium was scheduled to end July 31, putting thousands of families at risk. The federal eviction moratorium was slated to end on that day as well.

Forbearance, foreclosures and evictions are different events, but here we will focus on forbearance and how the current status may impact the future for homeowner. And for now, I’ll set aside deciphering the current state of these moratoriums, as they are still in play as I wrap up this article.

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https://www.nasdaq.com/articles/forbearance-and-foreclosure-moratoriums%3A-is-the-clock-done-ticking-2021-08-09