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How Lawmakers are Preventing Foreclosures

The city of Dallas has announced that it is launching a program to help people facing eviction or foreclosure in the wake of COVID-19, Fox 4 reports. The city notes that application pre-screening will be done on a first-come, first-serve basis.

Additionally, to assist homeowners and renters who may fall behind on payments, Kansas Governor Laura Kelly announced that the state's ban on evictions and foreclosures due to COVID-19 have been extended through May 31.

Executive Order #20-28 extended order, #20-10, saying landlords and banks cannot evict or foreclose on someone if they were caused financial hardship due to the COVID-19 pandemic.

“We understand that this pandemic is creating unprecedented challenges for people across the state,” Kelly said in her original release. “Kansas families need our support, and my administration is committed to doing everything it can to make sure Kansans can stay in their homes and businesses. It’s a necessary step to further protect Kansans’ health and safety.”

With dramatic increases in unemployment, delinquencies and defaults can be expected to increase for the foreseeable future, even during forbearance, according to Black Knight.

“From the start of the COVID-19 crisis, Black Knight has sought to provide leadership on behalf of our clients, as well as provide them with clarity, actionable intelligence, and knowledgeable assistance,” said Black Knight CEO Anthony Jabbour. “Beyond that, no other company has the sort of holistic view of the mortgage market and related industries that Black Knight has. We’ve been able to see – and quantify – what this situation means for our clients, the industry, and the wider U.S. economy, and we have been actively sharing and innovating around that insight.”

About Author: Seth Welborn

Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer.

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