“Rather than this waterfall of options, we need a clear, concise national approach to mortgage forbearance. Otherwise, it will continue to be confusing to borrowers and more labor intensive for servicers.” – David M. Dworkin
“The numbers are big, but are going to get even bigger. We are only two mortgage payments into this crisis, and already 6% of the people paying mortgages are asking for help. Others can’t pay but haven’t asked for help yet. By May, we will have millions more unemployed and unable to pay.” – David M. Dworkin
“Right now, we’ve got to focus on crisis mitigation, because the housing crisis is coming, and if we don’t get in front of it, it will bury us.” – David M. Dworkin
“Having companies go out of business or having individuals go into foreclose 3 or 6 months from now just kicks the can down the road and buys us a housing crisis on top of health care crisis.” – David M. Dworkin
“The federal government can and should do more to help struggling renters, including granting the maximum amount of forbearance possible and implementing a rental assistance program.” – David M. Dworkin
“I think that’s a pretty strong case that Congress and the president need to get together to come up with a solution to this that is more than just kicking the can down the road by saying…” – David M. Dworkin
“Moving forward on CRA modernization now, in the light of this crisis, is breathtakingly irresponsible. I’m as strong a supporter of CRA modernization as anyone — it’s essential — but it has to be done right. And we have no idea what our communites are going to look like a year from now, or what needs they’ll have after this.” – David M. Dworkin
“Communication is vital. You need to call your servicer and ask for help, and then you need to stay in touch with your servicer as your situation changes.” – David M. Dworkin
“Rent payments are the main source of revenue for property owners, particularly for small and mid-sized ones, who are responsible for paying a property’s monthly mortgage payment and paying essential staff and services that are more important than ever in the midst of this unprecedented public health crisis.”
“Renters who lost their job or are sick because of the virus should immediately contact their landlord and alert them — in writing — of their hardships. Most landlords will be sympathetic and willing to offer help. That communication is incredibly important.”- David M. Dworkin
