Suspend Mortgage & Rent Payments During the COVID19 Epidemic

Suspend Mortgage & Rent Payments During the COVID19 Epidemic

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Katie Noble started this petition to U.S. House of Representatives and

The Covid 19 epidemic could force people out of their homes through evictions and foreclosures.  This unprecedented virus is creating economic instability in all sectors of the market - from the service industry to the travel industry and beyond.  These are people who want to work and pay their rent or mortgages but who can't during this epidemic.  This economic reality could quickly cause a large scale homeless crisis and destroy real estate values nationwide by forcing masses of people into short sales and foreclosures.  I am urging Congress to immediately do three things:  a) mandate that real estate lenders give residential and commercial borrowers (without prior monetary defaults who are materially affected by COVID19) an extension on their monthly mortgage payment so that no payments are due until July 1, 2020, b) mandate that all residential and commercial landlords give their tenants who are materially affected by COVID 19 an extension to pay their rent so that no payments are due until July 1, 2020, and c) that Congress reimburse affected landlords and lenders to cover their respective costs of granting such extensions.  It's much less expensive and more humane for Congress to pay lenders and landlords for this extension than to attempt to create housing for masses of homeless people.  This legislation is critical to prevent a homeless crisis and avoid a total meltdown in the real estate market.  Ask Congress to Act Now!

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