Apartments in Jackson Heights (wiki)
May 5, 2020 By Michael Dorgan
Several Queens Congress Members have demanded the national cancellation of all rent and mortgage payments for the duration of the COVID-19 pandemic – and for six months afterward.
Lawmakers Grace Meng, Alexandria Ocasio-Cortez, Carolyn Maloney, Nydia Velázquez and Hakeem Jeffries wrote to House and Senate leaders Tuesday urging them to include these provisions as part of the next federal stimulus package. The letter was signed by five other New York City Congress Members.
The group said that the economic shutdown has caused unprecedented unemployment and that many people will end up homeless if rent and mortgage payments are not forgiven.
“For families with little to no savings to fall back on, this has been, and will continue be, catastrophic as they try to keep food on the table, cover the cost of prescription drugs, or meet other expenses,” the letter states.
“Further, as state unemployment systems face an unprecedented and overwhelming demand, millions more are expected to lose their sources of income,” it reads.
Under the plan, a fund would be created and administered by the Department of Housing and Urban Development whereby landlords would be reimbursed the cost of canceling rent for their tenants. This universal program would ensure that all renters are covered without introducing costly bureaucratic measures that would slow the receipt of aid, the group said.
Homeowners would also be able to get their mortgage payments forgiven through the same program. This would preserve homeownership for families and avoid investors taking advantage of potential bankruptcy auctions in the property market, the letter states.
The program would extend to include anyone with a current residential lease, small private landlords, public housing authorities, nonprofit organizations and housing cooperatives.
The letter did not outline how much the entire program would cost although Lauren Hitt, a spokeswoman for Ocasio-Cortez, told the New York Post that rent cancellation alone would cost about $66 billion per month.
Seems like the Federal government should do something about rent and mortgages pic.twitter.com/GhHvFJM2vx
— Alexandria Ocasio-Cortez (@AOC) May 2, 2020
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6 Comments
Sure thing, this’ll definitely happen and isn’t just a socialist fantasy using a pandemic as an excuse.
Oh how generous it is to be generous with other people’s money.
Wow this is an extreme measure to cancel rents and mortgages during these trying times. What ever happen to dignity and a commitment. I am all for the help and sympathy for all effected by this financial crisis. By forgiving all in need is a drastic measure. Rents and mortgages should be temporarily suspended, however measures must be made to repay your obligations. Make a 12 month payment plan interest free and pentely free to pay back past due amounts. Canceling rents and mortgages is just another radical extreme socialist movement.
are someone out there smart enough who can let me know where this congress member wants to freeze the mortgage and rent for the duration of the pandemic how the landlord is going to pay the worker the maintenance the building will be filthy no hot water no heat think about that this people received a paycheck and live in a nice building is ridiculous
The problem is, the minute you see AOC attached to Ny idea it is automatically dismissed because she is a such a mental patient… its frustrating because it marshalls in the ignoring of this initiative. No one will take anything AOC related seriously.
The governor and the mayor continue to turn a blind eye to the millions of people who can scarcely buy food let alone pay rent…. this is going to cause a huge avalanche later if it is not addressed now. There are several pieces of legislation proposed, but they are either being painted as leftwing AOC wacko policy or are just plain being ignored and back burnered with the hopes that things go back to normal and we all just figure it out for ourselves….