DSnews, March 16, 2020: Activists Call for Halts on Foreclosures
As more and more people are isolated to contain the spread of the novel coronavirus, Miami and San Jose, California have temporarily stopped all evictions, while other cities, including San Francisco and New York, are considering doing the same. Activists are pushing for a national hold on evictions and foreclosures, in an effort to safeguard public health.
“It’s never been more clear that housing is health care,” said Diane Yentel, the President and CEO of the National Low Income Housing Coalition. “The ability for people to self-isolate, self-quarantine in their homes is essential to all of our health, and so I think there’s a really important business reason and public health reason and certainly moral reason why big banks and regulators should take this step.”
According to Jesse Van Tol, the CEO of the National Community Reinvestment Coalition, a blanket national halt to evictions and foreclosures would help policymakers get ahead of any uptick in delinquencies and defaults, preventing the government form “reacting to it and playing catch-up,” he told American Banker.