The Rent and Mortgage Cancellation Act of 2020
-All HUD landlords will be able to qualify for a government program where the government will pay for the landlords property. This program does not take shape in the form of a loan, or anything a landlord will have to repay.
-Rent and Mortgage Relief payments will be available to non profits at first.
-Landlord is not eligible to receive rent/mortgage relief all at once. If they enact rent relief, they may qualify for mortgage relief, if they do not enact rent relief for tenants, then the landlord may not qualify for mortgage relief.
-All discrimination based on financial status, sex, sexual orientation, etc is prohibited.
– Landlords MUST document everything, including “just cause” evictions, and do everything in their willpower to keep people in their homes. Evictions will be almost impossible to achieve for landlords if they want to keep themselves inside the federal program.
This document is very short (5) pages, but I wanted to give you a small feel for it. Many people think this bill will absolutely not pass due to it’s favoritism for democratic values, but many people do think that some aspects of this document (the rent relief, and mortgage relief programs for landlords) will definitely be incorporated into future bills and acts. I will keep track of this, and see where everything is heading in terms of landlord aid.