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Homeowners Need a Homeowner Assistance Fund and Additional Relief to Prevent a Coming Foreclosure Crisis
Several million homeowners are behind on their mortgages or are already in foreclosure as the nation continues to face a pandemic, with low-income communities and communities of color hit hardest. While currently available programs will help many homeowners avoid foreclosure, many other homeowners likely will lose their homes unless further steps are taken.
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2021 Consumer Protection Priorities for a COVID Stimulus Package
The COVID crisis is creating a tsunami of debt. Even before COVID, 31% of Americans (42% in communities of color) had a debt in collection. With the unemployment rate still nearly double pre-pandemic levels (far higher for people of color), Congress needs to build levees now to keep Americans in their homes, cars, and jobs,…
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A Looming Crisis: Black Communities at Greatest Risk
Foreclosure prevention measures, data collection, and reporting must be prioritized to stave off preventable foreclosures Communities of color in the United States, especially Black and Latinx communities, are particularly hard hit by the COVID-19 pandemic, from higher rates of illness and death to greater rates of unemployment, mortgage default and eviction risk. These challenges have…
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What Consumers Need to Know About Covid-19 Mortgage Relief
Federal and states government have announced measures to assist millions of Americans facing an inability to make their monthly mortgage payments due to the COVID-19 emergency. You should pay your mortgage if you can afford it. If you cannot make a mortgage payment, relief may be available. Under federal law, a servicer cannot start the…
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Issue Brief: The U.S. Treasury Can and Should Ensure that Stimulus Payments Go for Families’ Food and Necessities, not to Debt Collectors
Millions of Americans have suffered an immediate and dramatic loss of income as a result of theCOVID-19 shut down. To help these Americans, the Coronavirus Aid, Relief, and EconomicSecurity (CARES) Act provides for payments to individuals up to $1,200 so that people can payfor food, rent, utilities, medicine, and other basic necessities.