On Monday we received urgent electronic correspondence from the National Multi Housing Council alerting its recipients to the May 7th passage of H.R. 1728 by the United States House of Representatives. Catalyzing this call to action were amendments added to the Mortgage Reform and Anti-Predatory Lending Act during floor debate “that could be used to [...]

Back in December we reported on some good news for renters and property managers, which was the result of Fannie Mae and Freddie Mac’s lawsuit prompted decision to allow qualified renters in foreclosed properties that have been absorbed by the GSEs to remain in their homes. After doing some research on renters rights after the [...]

So this week Dr. Government approached the lifeless body of the economy, armed with a fiscal defibrillator; in one hand the Treasury Department’s Geithner plan, in the other, an unprecedented emergency supplemental appropriations bill, commonly known as “the stimulus”. Unfortunately, it will be more than a few seconds until the fate of the economy is [...]

Last week, we discussed the U.S. Conference of Mayor’s annual report, which painted a grim picture of how the nation’s largest metro areas will fare in 2009. The report emphasizes the toll that the recession will take on citizens in large metropolitan areas and highlights the urban centers which will bear the brunt of the [...]

This past weekend, the United States Conference of Mayors convened for their 77th Winter Meeting. Though the meeting occurs annually, this year’s meeting was of particular importance, with the inauguration of President Obama only days away. From the meeting came a comprehensive report detailing the effect that the financial crisis has had on the nation’s [...]

Last week, Fannie Mae announced that it would be acting as an interim landlord for the many renters who would have had to look for new apartments and homes for rent because the properties in which they lived had been foreclosed upon. In accordance with the Emergency Economic Stabilization Act ($700 Billion bailout), both Fannie [...]

In California yesterday, renters left their apartments in San Diego, Los Angeles and San Francisco to protest the Governor’s elimination of the Senior Citizens Property Tax Assistance Program, a state program that helps senior low-income senior, blind and disabled renters in California. Defunding the renter assistance program put the State of California $191 million closer [...]

NAA and NMHC Joint Legislative Program to End On Monday, the National Apartment Association and the National Multi Housing Council announced that they would end their Joint Legislative Program. The organizations announced the split in press releases on their respective websites. For the past 17 years, the NAA/NMHC Joint Legislative Program has represented the apartment [...]

This morning we reported that the Senate had passed H.R. 3221, sending the housing rescue plan to the White House, which is expected to sign the bill into law in short order. Below, we will dig a little deeper into some of the provisions we highlighted. In order for the housing crisis to bottom out, [...]

The Senate, working on a Saturday to finish business before their month long August recess, passed the newly expanded H.R. 3221 by a 72-13 vote. The bill passed the House this past Wednesday and since no new amendments were added, will head directly to the president, who is expected to sign the bill quickly. The [...]