Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 7
Last updated on August 18th, 2021 at 06:34 pm
A new ban on evictions was issued by the U.S. Centers for Disease Control and Prevention. This happened when the lawmakers in the U.S. House failed in an attempt to extend the previous moratorium.
The order and its impact on small housing providers and looking at all legal options are being assessed by the policy analysts of the National Association of Realtors.
Only counties with major covid impact qualify for the new eviction moratorium from the CDC. He expected 90% of renters would be covered said President Biden in a news conference.
The new order will face more legal challenges because housing providers are trying to make up for more than a year of lost rent and face a slow issuance of nearly $50 billion in emergency rental assistance. During the last moratorium, more than $13 billion per month in rent went unpaid.
NAR President Charlie Oppler, a broker-owner from New Jersey said that half of all housing providers will not be able to pay their own bills or maintain their properties without rental income.
NAR is rental assistance paid directly to housing providers to cover the rent and utilities of tenants affected due to pandemic.
A lawsuit against the original CDC moratorium was brought to impose a ban on evictions by the Alabama and Georgia associations of Realtors, with the help of NAR’s.
The President acknowledged that the newest order will face more legal battles. He has asked CDC, to look at other alternatives than the one that is in existence, which the Supreme Court will not allow.
NAR has been strong support for securing rental assistance for tenants. This includes legislation that obtained nearly $50 billion for this federal emergency program.
Oppler said that as rental assistance is available in every state it will back up to a year-and-a-half of past and future bills.
A new online tool was announced by the Consumer Financial Protection Bureau where renters and housing providers facing pandemic-related financial hardships can apply for payment assistance for rent, utilities, and other expenses.
Reference Source: NAR
