In this HousingWire Daily episode, HW+ Managing Editor Brena Nath covers the recent COVID-19 forbearance extensions. In February, U.S. Department of Housing and Urban Development announced that it had extended COVID-19 foreclosure and forbearance moratoriums for FHA and USDA loans to June 30, 2021.
For the episode, Greg McBride, senior vice president and chief financial analyst for Bankrate.com, joins the podcast to share his insights on what the COVID-19 forbearance and foreclosure relief programs mean for homeowners and people in the housing finance industry. During the interview, he shares a recap on the past extensions, the pros and cons of the latest extension and at what point he thinks the extensions will end.
In his reaction to the extension, McBride said, “The year-long forbearance initially afforded through the CARES Act seemed sufficient at the time, but the pandemic and its economic fallout is dragging on far longer than had been expected.”
Below is the transcription of the interview. These transcriptions, powered by Speechpad, have been lightly edited and may contain small errors from reproduction: