Rent Due This Week - Millions of Americans Face Crucial Deadline

Rent payments are about to be due again.

Many don't know how they're going to come up with the money.

Alicia Nieves looks at an urgent plea for help as our country works to rebound.

WITH THE MONTH OF APRIL ABOUT TOEND... THAT MEANS THE RENT FORMOST PEOPLE ISABOUT TO COME DUE.THE PROBLEM IS MANY AREN'T SUREHOW THEY'RE GOING TO COME UPWITH THEMONEY BECAUSE OF THE CORONAVIRUSCRISIS.ALICIA NIEVES LOOKS AT AN URGENTPLEA FOR HELP AS THE COUNTRYWORKS TO REBOUND.AFTER WEEKS OF SOCIAL DISTANCINGAND STAY-AT- HOME ORDERS.SOMESTATES ARE STARTING TO RE-OPENAS THEY LOOK TO HELPBUSINESSES.TENS OF MILLIONS OFAMERICANS HAVE HAD TO FILE FORUNEMPLOYMENT SINCE MARCH.AS ARESULT, 1 IN 4 OF RENTERS ANDHOMEOWNERS WEREUNABLE TO PAY THEIR RENT ORMORTGAGE IN APRIL."WE EXPECT MAY TO BE APOTENTIALLY SLOWER START THANAPRIL."DOUG VIVVY IS WITH THENATIONALMULTIFAMILY HOUSING COUNCIL."ALL THE SMALL BUSINESSES HAVESHUTDOWN.

WE EXPECT THERE TO BEMORE STRESS ON THE SYSTEM, THEREHAS TO BE."SOME CITIES ANDSTATES HAVE CREATED NEW RENTALASSISTANCE PROGRAMS.FOR EXAMPLE, IN DALLAS AND LOSANGELES, THOSE WHO MAKE 80%BELOW THE AREA MEDIAN INCOMECOULD HAVE UP TO HALF THEIR RENTOR MORTGAGE PAID IN MAY.

ATLEAST TWO DOZEN OTHER CITIES ANDSTATES HAVE A SIMILARPROGRAM.BUT THE NMHC AND THENATIONAL APARTMENT ASSOCIATIONSAY IT'S NOT ENOUGH.THE HOUSE IS WORKING ON A BILLTHAT WOULD SET ASIDE $100BILLION IN ASSISTANCE FORRENTERS,AND $75 BILLION FOR HOMEOWNERS,INCLUDING LANDLORDS."THE PERCEPTION IS THAT THIS ISA VERY HIGH-MARGIN, VERYPROFITABLE BUSINESS AND IF YOUREALLY ANDTRULY LOOK AT THE NUMBERS THEPROFIT MARGIN THAT YOU HAVE FROMA DOLLAR OF RENT ISABOUT NINE CENTS."BOB PENNIGERWITH THE NAA BELIEVES IT ISCRITICAL THAT A FEDERAL HOUSINGASSISTANCE PACKAGE IS HOLISTICIN INCLUDING RENTERS,HOMEOWNERS, AND LANDLORDS.OTHERWISE WE COULD SEE APOTENTIAL DOMINO EFFECT."IT IS VERY CRITICAL THATCONGRESS TAKE ACTION TO ADDRESSTHISIF THEY DON'T HELP US, ANDHELPING US IS REALLY HELPING THERESIDENTS TO BE ABLE TO PAY THERENTAND BRIDGE THIS GAP, YOU AREGOING TO END UP WITH A HOUSINGSTOCK THAT IS GOING TO BE OFLOWERQUALITY ON THE OTHER SIDE OFTHIS AND YOU COULD HAVE A WAVEOF FORECLOSURES THATCOULD AFFECT RESIDENTIALHOUSING."I'M ALICIA NIEVESREPORTINGIF YOU DIDN'T MIND THE RAINTODAY, THAT'S A GOOD THI