#The Wall Street Journal: Biden to introduce new aid for mortgage borrowers at risk of foreclosure

The Biden administration on Friday plans to expand assistance programs for borrowers who fell behind on their mortgages during the Covid-19 pandemic and continue to face economic hardship, a bid to prevent a sharp rise in foreclosures over the coming months.

New modification options will be offered for borrowers with Federal Housing Administration loans and other federally guaranteed mortgages, administration officials said. The changes would aim to extend the length of their mortgages and lock in lower monthly principal and interest payments to keep more borrowers in their homes.