Some fear that the extension of the moratorium on seizures by the Biden administration until June 30 is not enough

STRAIT – “It definitely helps, you know, to solve or prevent some kind of immediate disaster. However, that still leaves a lot to be desired. And a lot of things haven’t been resolved, ”said Tristan Taylor of Detroit Will Breathe.

Detroit will breathe is fighting to end evictions throughout the pandemic and stresses that this extension only applies to government-backed mortgages.

“It’s just another way black and brown working class people are disproportionately affected by the crises of capitalism in the global pandemic,” Taylor said.

After: Biden extends pandemic aid to homeowners, tenants wait

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President Joe Biden’s administration said, “The extension of forbearance policies will provide critical support to homeowners of color, who represent a disproportionate share of borrowers with delinquent loans and withholding loans due to to COVID. ”

While the extension gives struggling homeowners some leeway, a financial expert Thomas hakim says it doesn’t fix the underlying issues.

“Until you tell people, help them and show them how not to be in this situation and what to do if it comes with the number of expansions, you could have 10 expansions, that won’t help anybody,” Hakim said.

The Biden administration estimates the extension will benefit 2.7 million homeowners and expand forbearance options for nearly 11 million government-backed mortgages.

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“I’m glad it was extended. And I think what has to go with that is advice on how to prepare yourself for things, you know when they get on the road when it’s no longer extended, ”Hakim said.

Copyright 2021 by WDIV ClickOnDetroit – All rights reserved.

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