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April 11th, 2010

Renters: Hey Washington, What About Us?

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One of my coworkers forwarded me a link to a recent New York Times article titled “Help Paying Mortgages Elicits Anger.” The article was written about the avalanche of comments the paper received after the HAMP program was updated to include more help for underwater and unemployed borrowers.

While not the focus of her article, The Times’ Tara Siegel Bernard mentioned renters — a slice of the housing market that hasn’t been offered the same level of assistance, if any, as homeowners by Washington:

“Why do renters always fall so low on the economic totem pole?”

“Under the government’s latest initiative, for instance, some unemployed homeowners will be permitted to make smaller mortgage payments while they get back on their feet — yet unemployed renters receive nothing.”

Bernard (and the Times’ readers) makes a great point: what about renters, why hasn’t Washington instituted any preservation programs for them?

-We want to hear from readers — do renters deserve the same federal assistance as homeowners?-

Additional blog posts on the subject:

Renters: Know Your Foreclosure Rights
Is Renting the New American Dream?
Supporting Housing, But at What Cost?

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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