EDITOR NOTE: The eviction moratorium is about to end June 30th which coincides with US Bank Stress Tests and Basel III compliance audits, just a few weeks away. Those who were unable to pay rent now owe it all back. Hopefully, these renters have been able to get back on their feet to make full or consistent reliable payments. Besides, many of their landlords owe mortgage payments as well. They too may be hurting. Yet they may not have been as well protected during the long pandemic lockdowns. There’s a lesson to be had here. Not a solution, but perhaps a better alternative. The landlords were likely in debt, but they had capital in the form of real estate. Renters likely had no capital but money for immediate consumption. Hopefully, they understand the difference between money and capital, and the importance of getting from one to the other as quickly as possible. This recognition is a critical prelude to financial growth. As it stands, capital begets money, while money begets its own disappearance in consumption. Jumping to a higher level, fiat capital begets debt and value shrinkage, while capital in gold and silver begets value growth in the form of “sound capital.” As Basel III approaches, making gold a Tier-1 asset among banks on June 28th, this last phrase will become more evident and understandable the closer we get to its compliance audits and implementation.
A federal judge has temporarily stayed a ruling that found the CDC exceeded its authority when it implemented a federal eviction moratorium last year.
The nation wide eviction ban was initially put into place last year by the Trump Administration to provide protection for renters facing hardship because of the pandemic. Experts with the CDC feared having families lose their homes would exacerbate the spread of COVID-19. The moratorium was extended through the end of June, 2021, by the Biden Administration.
On Wednesday, a federal judge in Washington D.C. struck down the eviction moratorium, saying the Centers for Disease Control and Prevention had overstepped their authority when issuing the federal evictions ban.
But, late Wednesday night, a federal judge in Washington granted a temporary stay of the order, meaning the moratorium will continue through the end of June. The stay came after the U.S. Justice Department filed an appeal to the original ruling.
The stay will give an estimated 4 million Americans a short reprieve. But, that reprieve is exactly that — short.
“These renters who have just been living for free are gonna be kind of out of luck anyway, because they are gonna owe all the back money that they did owe,” says Brian Carberry, Managing Editor for Rent.com. “Some of these renters that are behind are really gonna have to start getting in gear and figuring out what they need to do.”
Carberry says that renters need to be working on a plan to pay their back rent now, or they could be facing eviction once the moratorium does end. One simple piece of advice he offers for renters is to have a conversation with their landlord, and come up with a payment plan that works for everyone.
“I think, yes, landlords are gonna want to get their money back, but most people are human. I mean everyone’s human. But most people are gonna understand what you’re going through because they’ve been having financial difficulties too,” says Carberry.
There’s also a lot of grants and assistance program that renters can utilize to help pay their back rent, especially if their income was impacted in some way by the pandemic.
In Kansas, the biggest one is the Kansas Emergency Rental Assistance (KERA) program.
“They will pay back rent for you, and then going forward they will pay up to three months in advance for rent,” explains Tiffany Ronine, Resource Coordinator at SEK CAP. “So, if you have 12 months that you owe and then you need another three months, they could potentially pay all of that.”
To learn more about the program, and to apply, go here: https://kshousingcorp.org/emergency-rental-assistance/
In Missouri, the Missouri State Assistance for Housing Relief (SAFHR) program does the exact same thing as the KERA program in Kansas.
You can apply here: https://www.mohousingresources.com/safhr
In Oklahoma, renters can apply for rental assistance through the Community Cares Partners COVID-19 Relief program.
You can find more information on eligibility requirements and apply here: https://okcommunitycares.org/en/home/
All of these state wide programs utilize federal relief dollars from the American Rescue Plan, the $1.9 trillion economic stimulus bill passed in March. Experts recommend applying for the program in your respective state as soon as you can, since these dollars will go quickly.
If we go back to southeast Kansas, SEK Cap has several programs that they’re working on to help renters and others impacted by the pandemic. SEK CAP offers services to residents in 12 counties: https://www.sek-cap.com/services/services-avenues-to-success
SEK CAP is currently accepting applications for its rental assistance program, but the application deadline is fast approaching. It ends on May 14. The program assists qualifying individuals and families with rental subsidies and or security deposits and utility bills. You can find more information on how to apply here: https://sek-cap.com/services/housing
Originally posted on KOAM News