President Trump Signs Eviction Moratorium Executive Order but Impact Unclear

COVID-19 News , Industry ,

On Saturday, August 8, President Trump signed an executive order aimed at extending the CARES Act eviction moratoriums that expired on July 24.  However, the Executive Orders only direct various federal departments and agencies to “consider” and “review” ways to keep renters in homes using existing government programs. 
 
The wording of the executive order addressing evictions is as follows:

  • The Secretary of Health and Human Services and the Director of CDC shall consider whether any measures temporarily halting residential evictions of any tenants for failure to pay rent are reasonably necessary to prevent the further spread of COVID-19 from one State or possession into any other State or possession.

 

  • The Secretary of the Treasury and the Secretary of Housing and Urban Development shall identify any and all available Federal funds to provide temporary financial assistance to renters and homeowners who, as a result of the financial hardships caused by COVID-19, are struggling to meet their monthly rental or mortgage obligations.

 

  • The Secretary of Housing and Urban Development shall take action, as appropriate and consistent with applicable law, to promote the ability of renters and homeowners to avoid eviction or foreclosure resulting from financial hardships caused by COVID-19. Such action may include encouraging and providing assistance to public housing authorities, affordable housing owners, landlords, and recipients of Federal grant funds in minimizing evictions and foreclosures.

 

  • In consultation with the Secretary of the Treasury, the Director of FHFA shall review all existing authorities and resources that may be used to prevent evictions and foreclosures for renters and homeowners resulting from hardships caused by COVID-19.

 
You will be alerted if this Order leads to any changes or an actual extension of the eviction moratorium as outlined in the recently expired CARES Act.