In the wake of the COVID-19 pandemic, millions of Americans have found themselves facing financial hardship and struggling to make monthly housing payments. While relief options are available to homeowners and renters alike, it can be difficult to know where to look for information. To help consumers navigate this challenging situation, and in recognition of June as American Housing Month, the ABA Foundation today launched a new housing relief resource page to serve as a one-stop shop for those seeking information on this critical issue.
“The ABA Foundation developed this resource page to educate consumers, particularly vulnerable populations, on the housing relief options available to them,” said Corey Carlisle, executive director, ABA Foundation. “In times like these, it’s important to arm yourself with trusted financial information to help you to navigate the crisis.”
The new webpage highlights homeowner and renter relief options offered by the CARES Act, explains key terms such as forbearance, loan servicers and federally backed mortgages, warns consumers of potential pandemic-related scams, and directs them to trustworthy housing and credit counselors. It also identifies relief funds available to veterans and military families and offers several mortgage finance tools.
“America’s banks understand the critical role that housing stability plays in the lives of their customers and communities,” said Rob Nichols, ABA president and CEO. “Since the start of the pandemic, banks of all sizes have been offering a range of assistance programs to those facing financial hardship. If you need help, make sure to reach out to your bank.”
In addition to the housing relief webpage, the ABA Foundation will provide bankers with resources throughout the month, including tip sheets in English and Spanish, as well as two webinars on June 8 and June 24 that focus on the housing challenges faced by seniors and military families, respectively. To register for the June Housing Month webinars, click here.
For more American Housing Month resources, including the tip sheets, visit aba.com/housingmonth.
To see how banks are responding to the pandemic, visit aba.com/coronavirusresponse.