Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the Biden Administration’s decision to extend the eviction and foreclosure moratoria until July 31, 2021 bringing much needed relief to renters and homeowners during a time of recovery.

“Today, the Biden Administration announced an extension to July 31, 2021 of both the eviction and foreclosure moratoria, which were set to expire on June 30, as well as other necessary federal actions. This is the right thing to do to prevent increases in homelessness as Congress and the administration work together to ensure pandemic housing relief provided by Congress, including $46.6 billion in emergency rental assistance and $10 billion in homeowner assistance, reaches households in need. While I recognize the reality that landlords, particularly small mom-and-pop landlords, need to collect rent to cover their mortgage payments and other costs, extending the moratoria until local communities can distribute this relief will be the difference between millions of families losing or remaining in their homes. We must not forget the economic events that have brought us to our current day situation. In the aftermath of the 2008 financial crisis, millions of families lost their homes to mass foreclosures. I commend the administration for its extension of the foreclosure moratorium, and it is now in the hands of the Consumer Financial Protection Bureau to ensure its rulemaking on mortgage servicing requirements is finalized and effective by the end of July to avoid any gaps in protections for homeowners. If we do not learn from our mistakes of the past and act in the greatest interest of everyday people, our nation stands to lose another generation of homeowners and experience an exacerbation of our current homelessness and affordable housing crises. I commend the Biden Administration for its ‘all-of-government’ approach to keep people safely in their homes.”

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