Action Center

Time to pass the next stimulus package!
The U.S. is officially in a recession. Latinos continue to be disproportionately impacted by this pandemic, both in infection rates and economically. The housing industry today is being supported by record low interest rates and housing inventory shortages. However there is no guarantee that this will last. Our industry and our mission will be gravely impacted if we don’t address the critical cash- flow shortfalls, particularly as infection rates continue to climb and new shut down orders are on the horizon.

Inaction is not an option. The additional stimulus support will ensure that our nation's young, entrepreneurial Latino demographic can continue to drive growth in a post-pandemic economy.

That is why NAHREP is urging the U.S. Senate to include the following in the next stimulus package:

Paycheck Protection Program
  • Expand the use of PPP funds, including extending PPP benefits to struggling small “mom and pop” landlords and 501c(6) organizations.
  • Allow a second round of PPP funding for businesses with fewer than 10 employees and provide additional support to minority-owned businesses and other firms located in under-served communities.  
Ensure Sustainable Homeownership
  • Extend forbearance options to all mortgages, not just those that are federally-backed and ensure there is clear communication to consumers as to their options and rights.
  • Homeowner Assistant Fund for states, territories, and tribes to address the ongoing needs of homeowners struggling to afford their housing due to COVID-19 by providing direct assistance with mortgage payments, property taxes, property insurance, utilities, and other housing related costs.
  • Liquidity facility. Ensure that the industry is prepared for another spike in forbearance by creating a liquidity facility for mortgage servicers in order to prevent another servicing liquidity crunch.
Additional Cash Flow
  • Additional round of cash payments to individuals and their dependents, including future and retroactive payments for ITIN holders and mixed-status families.
  • Pandemic Unemployment Assistance. Extend the additional cash benefits in the PUA program that expires July 31, 2020.
Housing inventory 
  • Pass Neighborhood Homes Credit. The Neighborhood Homes Credit would establish a new federal tax credit to encourage the rehabilitation of deteriorated homes in distressed neighborhoods.
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