Recently introduced by Representative Ilhan Omar, H.R. 1847 is the ‘‘Rent and Mortgage Cancellation Act of 2021’’

Recently introduced by Representative Ilhan Omar, H.R. 1847 is the ‘‘Rent and Mortgage Cancellation Act of 2021’’.  A draft of the legislation shows that, if enacted, it will: 

  1. Suspend any and all rental payments by a tenant to a landlord during the period of the COVID-19 pandemic, identified as March 13, 2020 through April 1, 2022, or April Fool’s Day!  Moreover, during this period of time:
    1. The tenant cannot be evicted because of the suspension of rent payments.
    2. The tenant will not be held liable for any amount that has accrued due to the suspension of rent payments.
    3. The landlord may not report the suspension of rent payments to a credit bureau.
    4. The tenant’s credit score will not be affected by suspension of his/her rent payments.
    5. All suspended rental debts are to be “forgiven.”
  1. The same holds true for the payment of residential mortgages during this same period of time.  They are to be suspended, as are any foreclosure actions.  Moreover, no additional fees, penalties, or interest can accrue and all suspended mortgage debts are forgiven!

Hold on a minute!  There Is more!

Recently introduced by Representative Ilhan Omar, H.R. 1847 is the ‘‘Rent and Mortgage Cancellation Act of 2021’’.  A draft of the legislation shows that, if enacted, it will: 

  1. Suspend any and all rental payments by a tenant to a landlord during the period of the COVID-19 pandemic, identified as March 13, 2020 through April 1, 2022, or April Fool’s Day!  Moreover, during this period of time:
    1. The tenant cannot be evicted because of the suspension of rent payments.
    2. The tenant will not be held liable for any amount that has accrued due to the suspension of rent payments.
    3. The landlord may not report the suspension of rent payments to a credit bureau.
    4. The tenant’s credit score will not be affected by suspension of his/her rent payments.
    5. All suspended rental debts are to be “forgiven.”
  1. The same holds true for the payment of residential mortgages during this same period of time.  They are to be suspended, as are any foreclosure actions.  Moreover, no additional fees, penalties, or interest can accrue and all suspended mortgage debts are forgiven!

Hold on a minute!  There Is more!

The Secretary of Housing and Urban Development is to establish and manage a “Landlord Relief Fund” and a “Lender Relief Fund” to reimburse landlords and mortgage companies for suspended and forgiven rent and mortgage payments.  But, there is a catch!  A landlord may apply for reimbursement under the Landlord Relief Fund only on the condition that such landlord agree that (for a period of five (5) years) the landlord: (i) will not raise rent, (ii) will evict tenants only for just cause, (iii) will not ask tenants about the source of their income to pay rent, (iv) will not restrict tenancy on the basis of sexual identity or orientation, gender identity or expression, conviction or arrest record, credit history, or immigration status, and (v) will not seek payment of all unpaid rent during the five year period. Moreover, reimbursements to landlords will be on a priority basis, reimbursing non-profit landlords first.

There is also to be established an “Affordable Housing Acquisition Fund” to fund the acquisition of multifamily housing projects by eligible entities.” During the 5–6-year period after enactment of the Act, the owner of a multifamily housing property cannot sell or transfer ownership of the property to anyone (including heirs) unless the right of first refusal is offered to “a nonprofit organization, a public housing agency, a cooperative housing association, a community trust, or a State or unit of local government.”

There is an article at AmericanThinker.com on H.R. 1847.  Check it out if you have a mind to do so.  The article does a great job in laying out all the problems with this communist housing manifesto!

Would any Democrat with a modicum of commonsense pass this bill?  Let’s hope not!

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  • Amanda Mercer
    published this page in Blog 2021-03-17 12:52:49 -0400