The CFPB and FTC are working with CDC to make renters aware of their rights
By Jeff Sorg, OnlineEd Blog
(March 30, 2021)
WASHINGTON, D.C. – The COVID-19 pandemic has created a financial crisis that threatens the ability of millions to stay in their homes. Renters and homeowners experiencing pandemic-related unemployment or wage reduction are struggling to make monthly payments. A recent CFPB report found that over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least three months on mortgage payments, while 8.8 million are behind on rent.
Today, the Centers for Disease Control and Prevention announced an extension of its moratorium on residential evictions to keep people in their homes, out of shelters, and to stop the spread of COVID-19. Renters have struggled to exercise their rights under the CDC’s eviction moratorium, and news reports indicate many renters have been forced out of their homes despite federal protections.
CFPB Acting Director Dave Uejio and FTC Acting Chairwoman Rebecca Slaughter:
“We have directed our staff to investigate eviction practices, particularly by major multistate landlords, eviction management services, and private equity firms, to ensure that they are complying with the law. Evicting tenants in violation of the CDC, state, or local moratoria, or evicting or threatening to evict them without apprising them of their legal rights under such moratoria, may violate prohibitions against deceptive and unfair practices, including under the Fair Debt Collection Practices Act and the Federal Trade Commission Act. We will not tolerate illegal practices that displace families and expose them—and by extension all of us—to grave health risks.”
The CFPB and FTC are working with CDC to make renters aware of their rights under the eviction moratorium and to help them to understand how to complete declarations needed to stop evictions. Renters can learn about their eviction and debt collection rights and how to get help with housing costs at www.consumerfinance.gov/
The CFPB is also regularly providing updated information on a wide range of mortgage relief options and rental protections available to consumers. These updates can be found here: www.consumerfinance.gov/
[Source: CFPB Media Release]
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Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center’s CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee.
OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.