In Senate Banking Committee hearing, Sinema underscores the consequences of evictions and foreclosures on Arizonans during the pandemic
WASHINGTON – Arizona senior Senator Kyrsten Sinema spoke in a Senate Banking Committee hearing and discussed the importance of rental and mortgage assistance to ensure Arizona families do not face evictions and foreclosures during the coronavirus pandemic.
“Too often, politicians in Washington understand evictions and foreclosures as strictly economic events. But in Arizona, we know that losing your home does more than hurt your credit or jeopardize your financial standing – it takes away your dignity…Arizona’s situation will go from bad to worse if we see mass evictions and record homelessness during a public health crisis,” said Sinema.
In the Senate Banking Committee hearing, Sinema questioned Federal Reserve Chairman Powell and Treasury Secretary Mnuchin on the consequences of foreclosures and evictions on Arizona’s economy.
Sinema recently cosponsored the bipartisan Coronavirus Housing Counseling Improvement Act—legislation authorizing $700 million in funding for NeighborWorks to support housing counseling services to ensure homeowners and renters have the resources they need to navigate housing options and remain in their homes during the pandemic. The bill also ensures at least 40 percent of the $700 million is provided to counseling organizations that target counseling services to minority and low-income homeowners and renters.
Sinema recently introduced the bipartisan Emergency Family Stabilization Act—legislation creating an $800 million fund to increase resources and housing for Arizona children and families experiencing homelessness.
Sinema recently secured a commitment from the Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA), and the Department of Housing and Urban Development (HUD) to partner together and launch a new website to help Arizona renters and homeowners learn more about all the resources and assistance available to them during the coronavirus pandemic. Sinema and a group of Senators from the Banking Committee also recently introduced legislation providing a new $75 billion Housing Assistance Fund to help everyday Arizona families afford rent, mortgage, and utility payments during the coronavirus pandemic.
Sinema has also added a resources page to her website, www.sinema.senate.gov/corona, for Arizonans looking for the latest information on coronavirus.
Click HERE for Spanish version of release.