Amid financial difficulties caused by recent global events, many renters and landlords in the U.S. are struggling with overdue payments and the threat of eviction. To address these challenges, the Consumer Financial Protection Bureau (CFPB) launched the Rental Assistance Finder in July 2021. This online tool helps tenants and property owners find essential federal rental assistance programs.
The Rental Assistance Finder, hosted on the CFPB’s website, guides users to various state and local programs that offer financial aid for rent, utilities, and other housing-related expenses. This tool is especially helpful for individuals who have fallen behind on rent due to the pandemic’s economic impact.
The tool’s importance is clear, given the timing and the number of people needing help. In mid-2021, 16% of renting adults were behind on rent, with nearly half fearing eviction. The Rental Assistance Finder not only helps people find aid but also plays a key role in preventing evictions by supporting both tenants and landlords. CFPB Acting Director Dave Uejio emphasized the tool’s critical role in providing this much-needed support.
To combat the growing rental crisis, the federal government allocated over $46 billion for housing cost relief. This funding is distributed through various programs in every state. The goal is to stabilize the financial situations of millions of Americans and ensure the health of the rental market.
The tool simplifies the process of finding assistance. Users can easily input their location to access a list of relevant programs in their area. This feature makes applying for rental aid easier and more accessible, cutting through the confusion that many people face.
Beyond the Rental Assistance Finder, the CFPB offers a housing hub at consumerfinance.gov/housing, where renters and homeowners can find information on relief options, protections, and deadlines. Additionally, the CFPB collaborates with the Federal Trade Commission (FTC) to monitor illegal evictions and ensure compliance with the Fair Credit Reporting Act, particularly in the handling of rental assistance payments.
The Rental Assistance Finder is a vital resource during these challenging times. It connects renters and landlords to federal aid, helping to prevent evictions and ease financial strain. By visiting the CFPB’s website, those in need can take a crucial step toward securing their housing and financial stability.