U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – today released the following statement following the announcement that the Department of Housing and Urban Development (HUD) and Federal Housing Finance Agency (FHFA) will extend the suspension of foreclosures on FHA-insured and Fannie Mae- and Freddie Mac-backed mortgages until at least December 31, 2020. While the announcement extends protections for some homeowners, millions of homeowners could still face foreclosure and millions more renters could face eviction without legislative action to provide the protections and assistance they need.
“I’m glad to see HUD and FHFA acknowledge that the federal government should do more to prevent families from being put out of their homes during a pandemic. But this foreclosure moratorium does not go far enough - it provides fewer protections to homeowners than the House-passed Heroes Act and does nothing to protect millions of renters whose health and financial wellbeing are at risk. President Trump and Senate Republicans should come back to the table and work with Congress to provide vital rental assistance and protections to keep renters and homeowners in their homes.”
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