Ilhan Omar Reintroduces Cancel Rent and Mortgage Payments Legislation breitbart.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from breitbart.com Daily Mail and Mail on Sunday newspapers.
Under the bill, titled the Rent and Mortgage Cancellation Act, there would be no accumulation of debt for renters or homeowners, as well as no negative impact on a person’s credit rating or rental history.
The legislation also calls on the Department of Housing and Urban Development to establish and oversee a “Landlord Relief Fund,” to cover any losses landlords would receive as a result of the payment cancellations.
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Omar, under the legislation, also hopes to increase the availability of affordable housing by creating an optional buyout to enable the purchase of private rental properties by nonprofits, public housing authorities, cooperatives, community land trusts, and states or local governments.