On February 16, 2021, The Biden Administration announced that the Departments of Housing and Urban Development, Agriculture, and Veterans Affairs are extending the foreclosure moratorium for homeowners with federally backed loans through June 30, 2021, as well as extending the mortgage payment forbearance enrollment window until June 30, 2021. In addition, up to six months of additional mortgage payment forbearance is provided for borrowers who entered federal mortgage forbearance on or before June 30, 2020.

On February 9, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac are extending the forbearance period for eligible GSE-backed mortgages, who are on a COVID-19 forbearance plan as of February 28, 2021, by up to three months.