Sixteen percent of all renters in the United States are facing eviction Monday according to the Center on Budget and Policy Priorities — that is roughly 11.4 Million people. In what has become a legal tug-of-war spanning two Administrations — Trump and Biden — the end of the road has come. And while the US Census Bureau survey pegs the number at 7.4 million tenants reporting that they are behind on their rent, 3.6 Million of those are at “somewhat likely” or “very likely” to face eviction over the next two months. To put this in a geographical perspective, in Ohio nearly 134,000 renters say they are very or somewhat likely to face eviction. In Florida, more than 350,000 people are behind on rent. Georgia is charting 25 percent of all renters in arrears. And in New York, more than 860,000 tenants are behind on rent. It is most dramatic, though, in Texas where thirty-one percent of the 4.7 million renters said they had “no” or “slight” confidence in their ability to make next month’s rent, according to the Census survey.
The White House announced Thursday that it would not extend the moratorium because of the prospect of legal challenges, which have been spearheaded for months by landlords. The Biden administration cited a Supreme Court decision last month that kept the ban in place until July 31 but made clear that a majority of justices believed the CDC was exceeding its legal authority.
Contrary to popular belief, nearly 40 percent of all rentals are owned by mom and pop landlords. Many of these folks invested into real estate in hopes of securing retirement and instead have been forced to sell off their assets for pennies on the dollar to hedge funds whom have been borrowing at near zero percent interest — all with the blessing of the Biden Administration. It has been a double edged sword. On the one hand, the Biden Administration has allocated multi-billion dollar tranches of assistance for renters and landlords. Virtually none of that money has reached their target. In fact, New York has not even touched a single dime of the first tranche of funds. All told, out of $50 Billion only about $3 Billion has ever been used — and how much of that was used for administrative overhead is a number yet unknown.
Added to the nightmare of the inability of the Biden Administration to protect its citizens from eviction is the increased spread of COVID in the Delta variant. At the time of reporting, Florida was the epicenter reporting is highest daily infection rate ever with 21,368 cases.
For the Mortgage Field Services Industry, it is a boon. Much like morticians during COVID or roofers during the storm season, opportunities abound. The opportunities, though, are predominately with non Industry providers whom service their own portfolios. If you are interested in pursuing any of these accounts feel free to reach out for a Consultation.
Custom Podcasting
Industry Branding
Professional Recording
$125/Hr- Custom
Podcasting
Turnkey Package
Complete Package
UEI-SAM; Federal Contracting; and Industry Contracts
$1500- Best Buy
One Year Ongoing Consultation
Recruiting
Complete W2 and W9 Personnel
Inspectors, General Contractors, Field Service Technicians
$Contact Us- One Stop Shop Recruitment
Thoroughly Vetted, Foreclosurepedia Approved
Consult
Hourly Consulting
Our Knowledge
When YOU want it!
$150 Per Hour- Any Topic
Any Subject
When YOU Want It!
Advertising
Your Message
Where You Want
When You Want
$375 Per Month- Get New Clients
And Better Pay NOW!
Retainer
Annual Retainer
For Consulting Services
$750 Per Year- Annual Retainer
Required For All
Consulting Services
