Millions expecting to lose homes
Millions of Americans expect to face eviction by the end of the year, adding to the suffering inflicted by the coronavirus pandemic raging across the U.S.
About 5.8 million adults say they are somewhat to very likely to face eviction or foreclosure in the next two months, a survey completed Nov. 9 by the Census Bureau showed. That accounts for a third of the 17.8 million adults in households that are behind on rent or mortgage payments.
The coronavirus relief bill, signed into law in March, allows homeowners to pause mortgage payments for up to a year if they experience hardship as a result of the pandemic. Borrowers who signed up at the start of the program could face foreclosure by March.
The Centers for Disease Control and Prevention’s nationwide temporary suspension on evictions — aimed at stemming the spread of the coronavirus — ends Dec. 31. The timing is far from ideal, as millions of people are also set to lose their unemployment benefits at year-end without an extension from Congress.
Roughly half of households not current on their rent or mortgage payments in Arkansas, Florida and Nevada think there’s a “strong chance” of eviction by early January. This equates to more than 750,000 homes where an eviction is the biggest worry, the survey showed.
By metro area, the threat of eviction is most pressing in New York City, Houston and Atlanta.