Let President Biden know that a forbearance on mortgage payments is only putting off the pain. Homeowners who have lost their jobs, or have a reduction of income due to the COVID-19 virus (through no fault of their own) should receive financial help. Banks have been bailed out in the past when THEY had shady loan practices that put people out of their homes. Homeowners across the United States of America will not be able to "catch up" on payments, nor should they be expected to do so. The American Rescue Plan MUST include allocated financial support to keep homeowners in their homes.
Why is this important?
The impending foreclosure avalanche will hurt many Americans. Foreclosures will increase the houseless population, and will DISPROPORTIONATELY affect black and brown homeownership and further widen the generational wealth gap. The American Rescue Plan needs to direct resources to help homeowners NOW
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