Biden Administration Announces Foreclosure Moratorium / Mortgage Forbearance Deadline Extension

Dan Economy, Industry News Release, USDA

USDA Extends Evictions and Foreclosure Moratorium to March 31, 2021, and Provides Additional Guidance for Servicing Loans Impacted by COVID-19 (USDA/RD) — In one of his first acts in office, President Joe Biden requested federal agencies to extend eviction and foreclosure moratoriums for millions of Americans. In response, the U.S. Department of Agriculture announced an extension of eviction and foreclosure …


Rural Mainstreet Index Fears Farm Foreclosure Threat to Banks

Dan Economy, Industry News Release

The Creighton University Rural Mainstreet Index is still below growth-neutral, which it has been for some time. The index jumped six points from September to October, but low crop prices are still inhibiting growth. Ernie Goss, the author of the index, says, “As a result of low commodity prices and weak farm income, 9.5 percent of bank CEOs expect farm …