The current situation with COVID-19 has created the global pandemic declared by WHO. U.S government and President of United States has declared national emergency and local governments have started locked downs to prevent the spread of virus.

Federal Reserve’s decided to cut interest rates to zero in order to stimulate economic growth, as lowerfinancing costs can encourage borrowing and investing.

However, the lower interest rates will not effect the current mortgage borrowers, The current locked down has forced many families and daily wagers at risk of loosing jobs or drastic loss of income which will have devastating effect on economy in short and long term by falling behind on mortgage payments. The current pandemic has no end in short sight. 

This petition is to request the Honorable President of United States, The Congressmen, House of Representatives and lawmakers to pass the bill on fixed term loans and reduce the interest rates by fixing it to 1% for 15 years and 1.5% for 30 years for five years to reduce the impact on economy and help the people from falling behind on mortgages.