Struggling renters get one more month to figure out how to pay their rent, thanks to an extension of the national eviction moratorium in the new federal COVID-19 relief bill.
There’s also a new pot of federal money headed to Colorado just for rental assistance in the $908 billion Coronavirus Response and Relief Supplemental Appropriations Act, which became law Sunday night as part of the Consolidated Appropriations Act of 2021.
But surviving as a renter or homeowner today is a lot different from last spring, when the unemployed received extra federal unemployment benefits.
There are few homeowner-assistance programs in Colorado. Homeowners can opt for a one-year mortgage forbearance on Federal Housing Administration-backed loans. The new federal relief bill extended the new application deadline to Feb. 28 though it did not extend the length of forbearance.
But the new federal COVID relief plan has set aside $25 billion for states to use on assistance for homeowners and renters struggling to pay their housing bills. Colorado’s share is estimated to be $383.3 million, according to the National Low Income Housing Coalition.
The state also replenished funding for its housing assistance programs. The Emergency Housing Assistance Program is available to tenants and homeowners, while the Property Owner Preservation program is for landlords who can request rent on behalf of their tenants.
As of Dec. 11, the tenant and landlord programs had paid out $27 million to cover rent for 17,350 households. But demand has grown tremendously, as more renters have used up savings or seen their unemployment pay end.
Colorado eviction moratorium ends Dec. 31Actual evictions in Colorado are near all-time lows, according to data from the Colorado Apartment Association. Credit that to state and federal eviction moratoriums.
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