Why $ 46 Billion Lending Assistance Couldn’t Prevent Peasant Eviction

Over the past few months, the White House and the Treasury have been competing to address program issues, repeatedly revising guidelines to ensure that tenants receive payments with minimal documentation, and state judges. And even law school students are helping tenants delay or prevent their expulsion.

Jean Sparring, who oversees President Biden’s pandemic bailout program, said that despite the shortcomings of previous rental aid, about 40% of vulnerable tenants in the country are either aided or state and local moratoriums. Estimated to be temporarily protected from eviction by. ..

“If poorly performing states and regions don’t speed up, there will be painful gaps that make sense for hundreds of thousands of families,” says Sperling. “That’s unacceptable, and that’s why we’re still pushing as hard as we can.”

No government has ever played a similar role in trying to prevent the eviction of peasants overseen by state courts.

The federal government’s main rental subsidy is the Section 8 voucher program, which pays private landlords and nonprofits the difference between the market price and the amount the tenant can afford. Financing has been stagnant for decades, and waiting lists of up to 10 years are not uncommon in many cities.

Ingrid Gould Ellen, Faculty Director of the Furman Center for Real Estate and Urban Policy, said: At New York University. “The pandemic only emphasized the need for a federal emergency rental program.”

However, Section 8, which has tedious certification requirements, did not provide a useful template for the new Emergency Rental Assistance Fund. Therefore, when the virus struck and money began to fall, federal governments, states, and local governments had to invent an essentially entirely new system. Otherwise, it would have taken years of trial and error.

Why $ 46 Billion Lending Assistance Couldn’t Prevent Peasant Eviction

Source link Why $ 46 Billion Lending Assistance Couldn’t Prevent Peasant Eviction

Back to top button