On November 17, Senate Majority Leader Harry Reid (D-NV) introduced an economic stimulus package, S. 3689, which includes $575 million for relocation and temporary housing assistance for renters who have been displaced by foreclosure.
If passed, the Department of Housing and Urban Development (HUD), in coordination with Continuums of Care, would distribute this money to states and local governments with the greatest need, based on the number of rental properties at risk of or in foreclosure. This money would be directed toward programs for a variety of homelessness prevention services, including temporary rental assistance, first and last month’s rent, security deposits, case management services, or other appropriate services necessary to assist eligible individuals or families in finding safe and affordable permanent housing.
The House passed its version of an economic stimulus bill earlier this year, but Congress and the Administration were not able to come to agreement on a final package before Congress adjourned last week. They are expected to finish consideration of the stimulus package in January.
