Tags: new york mortgage | rent forgiveness | economy | stimulus bill

NY Dems Push Mortgage, Rent Forgiveness in Next Relief Bill

rep alexandria ocasio-cortez is shown

(Paul Sancya/AP)

By    |   Tuesday, 05 May 2020 02:47 PM

A group of New York Democrat lawmakers are advocating for rent and and mortgage forgiveness options to be included in the next coronavirus stimulus bill. 

Reps. Grace Meng and Alexandria Ocasio-Cortez propose creating a new Housing and Urban Development program to handle paying landlords and providing financial help to homeowners, The Hill reports. 

The two NY reps. penned a letter Tuesday outlining the concept. The proposed HUD program would reimburse landlords for rent and give homeowners access to mortgage forgiveness for the duration of the pandemic and for six months after the pandemic is declared over.  The letter was signed by eight other NY Democrats. 

“We have seen how this crisis has exposed the deeply entrenched inequities in our economic and housing system. Therefore, we urge you to include a universal, national rent and mortgage forgiveness fund in the next legislative package — and ensure that as families fight for their health, we protect their human right to stable housing,” they wrote. “Not only does HUD have the capacity to administer a program of this scale, but it would serve as a direct stimulus for the countless families that are facing unprecedented economic hardship."

Last month, Rep. Ilhan Omar (D-Minn.) put forth legislation to cancel rent and mortgage payments. It received support from both co-chairs of the Congressional Progressive Caucus. 

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A group of New York Democrat lawmakers are advocating for rent and and mortgage forgiveness options to be included in the next coronavirus stimulus bill. 
new york mortgage, rent forgiveness, economy, stimulus bill
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2020-47-05
Tuesday, 05 May 2020 02:47 PM
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