With more than 6 million renter households behind on rent, the Biden administration set into motion a slew of measures to prevent people from losing their homes. Originally, the Treasury Department allocated $46 billion in federal aid to protect struggling tenants from eviction, but the state and local officials were slow to put the money to use. This new guidance from the Treasury department is meant to help distribute the funds more efficiently over a thirty-day period. Additionally, the Justice Department has asked state courts to dissuade landlords from expelling tenants by adopting an “anti-eviction diversion practice.”
What Comes Next?
Unfortunately, the Supreme Court determined that the Moratorium could not be extended past July 31, 2021. This means that as of August 1, 2021, if your local state government has not extended a foreclosure moratorium, landlords are now able to file for eviction without notice to the tenant. If you've missed rent payments since September 2020, you will need to pay those back. Further, past missed rental payments may also include late fees, depending on your rental agreement.
How A Real Estate Attorney Can Help
Real estate attorneys have specialized knowledge of the laws governing real estate ventures, including residential and commercial closings, loan modifications, and foreclosure defense. If you are facing foreclosure because of missed rental payments due to the COVID-19 pandemic, Attorney Melvin Monachan may be able to help. Foreclosure proceedings take time, at least 120 days under federal law, which is in addition to time for court proceedings. Federal aid was promised, but many tenants did not know how to acquire it. This isn't your fault. Call 347-389-1682 today to schedule a consultation or schedule one online. You don't have to face foreclosure alone.