People living in some federally financed housing will have until the end of the year to catch up on any payments they missed during the coronavirus-induced economic downturn without losing their housing.
Department of Housing and Urban Development Secretary Ben Carson said Thursday at an event in Kannapolis that the extension applies to single-family homeowners with Federal Housing Administration-insured mortgages.
"It means that for people who have mortgages that are backed by us, any foreclosure activity, there's a moratorium on it. Any eviction activity, there's a moratorium on it," he said.
The FHA made the announcement Thursday. It's the third extension since March by the FHA, which is part of HUD.
HUD said homeowners should continue to make their mortgage payments if they can, or contact their mortgage servicers to make future repayment arrangements.
Carson was in Kannapolis for an affordable housing roundtable discussion with local officials and U.S. Rep. Richard Hudson.
At the event, civic and nonprofit leaders from Kannapolis and Concord told Carson they need millions of dollars in additional funding for affordable housing and transitional housing for homeless residents.
Carson said afterward that HUD's budget has grown every year since he became secretary in 2017.
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