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Gryphon USA: Extension of eviction, foreclosure moratorium no long-term solution

Share this article Share this article COLUMBUS, Ohio, Dec. 23, 2020 /PRNewswire/  Recent actions at the federal level to extend foreclosure and eviction moratoriums on certain sections of the housing market through January will allow the incoming administration of President-elect Biden to revisit the issue after Inauguration Day, according to Columbus distressed assets manager and auctioneer Rich Kruse. But the Gryphon USA Ltd. principal said adopting that strategy for too long could create risks for the housing market as many landlords and mortgage holders begin to assess the impact on their businesses. Congress supported the extension of mortgage foreclosures and eviction protections to certain properties through Jan. 31 as part of a second round of support for those facing job loss and other economic stress as a result of the COVID-19 pandemic. A number of federal agencies had already extended the moratorium that were due to expire on Dec. 31.

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