What does the HEROES Act Propose?

The House of Representatives introduced the HEROES Act, a $3 trillion dollars Coronavirus Relief package.  Now this bill goes to the Senate, which is known for drastically cutting or altering the any bill before passage.  You should know that NAR sent a letter to Congressional Leaders recognizing specific provisions that benefit REALTORS, consumers, and the real estate industry as a whole.  Specifically, they are in support of additional funding and flexibility for financial assistance programs as well as certain housing security provisions aimed, including rental assistance. NAR provided a fantastic 6 page summary of the HEROES Act. It’s great for those that like to dig into the details.  We will keep you posted as we know more.  In the meantime, the summary covers these basic areas of the Bill:

  • Mortgage, Credit Reporting, and Student Loans
  • Housing
  • Small Business and Commercial
  • Unemployment
  • Taxes
  • Health Insurance
  • Broadband
  • Census
  • Paid Sick Leave & Family and Medical Leave (FMLA)
  • Transportation and Home Energy Assistance

Get NAR’s full summary here.