The Administration is also calling for the acceleration of ERA funds to renters and landlords in need in addition to an all hands-on-deck effort by local governments, courts, community organizations, and the legal community to create alternatives to evictions.
#Hud and fannie mae foreclosures series#
Today, the Biden-Harris Administration is announcing a series of actions to help state and local governments prevent evictions and promote housing stability. Money is available in every state to help renters who are behind on rent and at risk of eviction. But state and local governments must do better. The Biden-Harris Administration’s May 7 th guidance has helped state and local governments move more funds to more renters in need. This is on top of $25 billion allocated under the Consolidated Appropriations Act, 2021, bringing the total amount of ERA available to more than $46 billion and creating an economic and moral imperative for state and local governments to rise to the challenge of building a new infrastructure for getting emergency rental assistance to vulnerable renters and landlords. The American Rescue Plan allocated an additional $21.5 billion for Emergency Rental Assistance (ERA) that can be used by renters to cover arrears and make landlords whole.
The Administration is also taking action to stabilize homeowners and support a return to a more stable housing market, including by extending the foreclosure moratorium for federally-backed mortgages by a final month, until July 31st.īiden-Harris Administration Actions to Help State and Local Governments Prevent Evictions Following the CDC’s decision to extend the eviction moratorium for one final month through July 31, 2021, the Administration is announcing a series of actions to help state and local governments prevent evictions. Today, the Biden-Harris Administration is announcing a number of steps to keep people in their homes by protecting renters and homeowners who are still experiencing shocks from the pandemic and its economic fallout. In every state, jobs are up, the pandemic is in retreat, and American workers and families are looking ahead to a brighter future. And critically, 70% of Americans ages 30 and older have received at least one dose of the COVID-19 vaccine. The American Rescue Plan is working, jumpstarting the economy and getting Americans back to work. Since President Biden took office, more than two million jobs have been created. Across America, a strong economic recovery is taking hold.
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