Former Vice President Joe Biden, says rent and mortgage payments should be forgiven for those struggling financially during the current economic crisis precipitated by the Coronavirus pandemic. According to Realtor.com, the Democratic presidential candidate said those who lost jobs during the pandemic should not have to repay their missed housing payments, emphasizing that it was “forgiveness…[and] not paid later.” Biden joins others in the Democrat Party including U.S. Rep. Ilhan Omar (D-Minn) who recently introduced legislation that would would cancel rent & mortgage payments for the duration of the public health crisis. Indeed…
“There should be rent forgiveness and there should be mortgage forgiveness now in the middle of this crisis,” the former vice president said…”Forgiveness,” he continued. “Not paid later, forgiveness. It’s critically important to people who are in the lower-income strata.”
HOWEVER…other voices brought sanity to the discussion, including National REIA’s Charles Tassell:
Charles Tassell
“The rents pay the mortgage, they pay the insurance, they pay the taxes, they pay the salaries of the maintenance people, the leasing people,” says Cincinnati landlord Charles Tassell, who owns nearly 120 rental units in the city. Tassell is also the chief operating officer of the National Real Estate Investors Association. “Just saying there’s a forgiveness means the taxes aren’t paid, the mortgage isn’t paid, and more people become unemployed.”
