Approximately 5.8 million Americans — including many seniors — say they are somewhat or very likely to face eviction or foreclosure in the next two months, according to a Bloomberg analysis of survey data from the U.S. Census Bureau.
The survey also found that about 28% of renters, or roughly 14.9 million Americans, have little to no confidence that they’ll be able to pay their December rent.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law in March, has allowed homeowners to pause mortgage payments for up to a year if they experience financial hardship as a result of the COVID-19 pandemic. Borrowers who signed up at the start of the program, however, could face foreclosure by March.
Further, the Centers for Disease Control and Prevention’s nationwide temporary suspension on evictions — issued in September to help stem the spread of COVID-19 — is slated to end Dec. 31. That’s also when millions of Americans are scheduled to lose their employment benefits.
With negotiations on another COVID-19 relief bill still at an impasse, many experts say it seems unlikely that Congress will be able to pass another coronavirus relief deal before the end of the year.