Joint Letter: Letter to HUD asking for COVID-19 protections for reverse mortgage borrowers
Letter to HUD asking for needed protections for reverse mortgage borrowers facing challenges due to COVID-19
Letter to HUD asking for needed protections for reverse mortgage borrowers facing challenges due to COVID-19
FOR IMMEDIATE RELEASE: March 24, 2020 National Consumer Law Center Contacts: Sarah Bolling Mancini (smancini@nclc.org), Odette Williamson (owilliamson@nclc.org), or Jan Kruse (jkruse@nclc.org) Advocates: HUD Must Do Much More to Protect Older Reverse Mortgage Borrowers in the Coronavirus Epidemic The National Consumer Law Center, Americans for
AFR Education Fund and 46 other organizations sent a letter to regulatory agencies urging them to suspend all non-COVID-19 rulemaking activity. Public advocates and regulatory agencies should focus all resources on responding to the public health emergency and the economic crisis.
Americans for Financial Reform and 62 other organizations sent a letter to members of Congress asking them to implement broad-based, efficient, and effective relief for millions of people and small businesses in the U.S.
This major crisis demands a massive and swift response, but it must focus first on health care, and then on easing the burdens on everyday people, communities, and small businesses who are hardest hit. The McConnell proposal falls far, far short of what the situation demands.
The McConnell Phase 3 #COVID19 bill offers only minor tweaks for some federal student loan borrowers. Even with those tweaks, the bill fails to address the enormity of the pending economic crisis. The economic dam is about to burst and McConnell is offering student loan borrowers nothing but a deflated, leaky life vest.
The Trump Administration’s minor tweaks for some federal student loan borrowers are insufficient and fail to tackle the crisis. The Department of Education announced that borrowers with federally held student loans will have the option to suspend payments, but will need to contact their servicer in order to request it. This requires effort on the part of borrowers who are already under stress. This is coming at a time when many student loan servicers are closing call centers or reducing hours. Worse still, it leaves out some federal student loan borrowers whose loans are not federally held.
AFR Education Fund and 46 other organizations sent a letter to regulatory agencies requesting extensions of all public comment periods during the COVID-19 emergency.
The 20 undersigned community, civil rights, consumer, and student advocacy organizations applaud the Senate Democrats’ student debt cancellation proposal. The plan will take decisive action to get immediate and impactful relief to millions of Americans. It will enable many economically distressed borrowers to focus on their own personal safety and that of others, while also freeing up extra dollars they can use to put back into the economy.
FOR IMMEDIATE RELEASE March 19, 2020 CONTACT: Alexis Goldstein, alexis@ourfinancialsecurity.org Senate Democrats Plan to Cancel Student Debt Would Stimulate the Economy and Provide Crucial Relief to Borrowers Statement from Alexis Goldstein, Senior Policy Analyst, Americans for Financial Reform: “The Senate Democrats plan to cancel student