Fears of housing crises loom as homeowners begin to miss mortgage, rent payments

The CARES Act which included a ban on evictions for missed mortgage and rent payments, has expired with no follow-up relief package passed.
1:47 | 08/15/20

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

Comments
Related Extras
Related Videos
Video Transcript
Transcript for Fears of housing crises loom as homeowners begin to miss mortgage, rent payments
Back now with the looming housing crisis. With millions of Americans out of work, many are now falling behind on rent or mortgage payments and could face foreclosure or eviction. Here's ABC's Deirdre Bolton. Reporter: Tonight, increasing fears of Americans losing their homes in the coming months, potentially by the millions. This sing. LE mother of an 8-year-old who lives in a one bedroom in Los Angeles for $900 a month. She hasn't been able to pay rent since March. If nothing is done, if it lasts the way it is right now, then I will be most certainly facing possibly eviction. Reporter: With 30 million Americans out of work, the number of households now already behind on paying rent or mortgages is startling. 27% missed payments last month. Renters in this current economy are more vulnerable than homeowners largely because the unemployment situation is heavily weighted against lower wage earners. Reporter: The areas with the 30% or more nonpayment in July, New York and several states across the south. It's a crisis lawmakers were able to postpone early in the pandemic. The emergency C.A.R.E.S. Act they passed including a ban on evictions for missed rent and relief from penalties for missed mortgages payments. But that program ended two weeks ago, and talks of a follow-up relief package have broken down between the white house and Democrats in congress. President trump last week signed an executive order he said offered new protections, but it falls short of an actual new eviction moratorium. While the most vulnerable hope that congress will pass new relief, some states do have local protections in place, but they are piecemeal and leave millions of Americans exposed in the meantime. Tom? D thank you for that. When we come back, the

This transcript has been automatically generated and may not be 100% accurate.

{"duration":"1:47","description":"The CARES Act which included a ban on evictions for missed mortgage and rent payments, has expired with no follow-up relief package passed.","mediaType":"default","section":"ABCNews/WNT","id":"72398930","title":"Fears of housing crises loom as homeowners begin to miss mortgage, rent payments ","url":"/WNT/video/fears-housing-crises-loom-homeowners-begin-miss-mortgage-72398930"}