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Proposal to cancel rent, mortgage payments nationwide during coronavirus pandemic introduced by US Representative

MORTGAGES, COVID-19 AND THE CARES ACT
MORTGAGES, COVID-19 AND THE CARES ACT(WMBF)
Updated: Apr. 22, 2020 at 2:55 PM EDT
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CLEVELAND, Ohio (WOIO) - A bill proposing the cancellation of rent and mortgage payments for the duration of the COVID-19 crisis has been introduced to United States lawmakers.

The Rent and Mortgage Cancellation Act, pitched by Democratic U.S. Rep Ilhan Omar, of Minnesota, would provide rent and mortgage forgiveness while also providing relief to landlords to assist with lost payments.

"We must take major action to protect the health and economic security of the most vulnerable, including the millions of Americans currently at risk of housing instability and homelessness,” said U.S. Rep. Omar.

"This time, it’s time to bail out the American people who are suffering,” U.S. Rep. Omar added.

If approved, the bill would be in effect for up at one year, retroactive to March 13.

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