Fix the Forbearance Mandates on Student Loans and Home Mortgages

Fix the Forbearance Mandates on Student Loans and Home Mortgages

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Victor Martinez started this petition to The President of the United States and All Members of the US Congress

The mandatory forbearance of payments of students loans and home mortgage loans by the Education Department and HUD/FHFA respectively will not be effective and in fact only exacerbate the financial crisis for borrowers and lenders if the forbearance does not include a mandatory extension of the maturity of the loan equal to duration of the forbearance period.

Either a Presidential Executive Order or an act of Congress should be immediately enacted to make sure that any Coronavirus Forbearance given to student loan and home mortgage borrowers have corresponding extensions of maturity equal in duration to the duration of the forbearance period.

This lesson was learned from the Great Depression and the Great Recession.  Let us learn from History and not make the same mistake again.

Please sign this petition to help our struggling youth.

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