CHICAGO (WBBM NEWSRADIO) -- Mayor Lightfoot announced a new housing solidarity plan to ease the financial pain for many who feel burdened by the pressure to pay rent during the pandemic that has left thousands without income.
The Chicago Housing Solidarity Pledge is an effort to provide relief to troubled tenants and building owners negatively impacted by the coronavirus disease, the city said Wednesday. Lightfoot partnered with more than 10 banks and credit unions, housing lenders and landlord associations who all pledge to help residents through this tough time by providing grace periods to rent and mortgages, no late fees and deferred payment relief options to eligible renters and mortgage holders.
“The Chicago Housing Solidarity Pledge represents our city’s shared commitment to our residents and building owners alike whose homes and livelihoods have come under threat as a result of this crisis," said Mayor Lightfoot in a press release. "I am extremely proud that renters, landlords, homeowners, and lenders have all come to the table to work in partnership for our city and develop strong solutions to our shared challenges.”
“Chicagoans impacted by the coronavirus are facing many extraordinary challenges and financial difficulties,” said Paul Lambert, Chicago market president for Bank of America. “We support the Chicago Housing Solidarity Pledge and remain committed to helping clients get the support they need to get through this crisis.”