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) would provide temporary relief to homeowners by suspending foreclosures on Federal Housing Administration (FHA) insured mortgages for the next 60 days.
“This is a step in the right direction. I’m glad this Administration finally recognized that homeowners need relief during this pandemic. However, this does not go far enough, HUD and the Administration must work to expand relief to all hardworking Americans facing economic fallout from the Coronavirus pandemic including renters and those with mortgages not backed by the government,” said Senator Brown.
Earlier this week Brown introduced legislation that would protect American families who are facing financial hardship due to the economic consequences of coronavirus from falling behind on their mortgage or facing foreclosure. Additionally, Brown sent letters to the Department of Housing and Urban Development (HUD) and independent financial regulators demanding that they suspend all rulemaking that could impede the federal response to the COVID-19 pandemic.