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The Department of Commerce estimates the monthly need for rental assistance at over $100 million per month. Without relief, thousands of renters are at risk of losing their homes when the eviction moratorium ends.
Document recording fees on real estate related transactions – totaling $85.50 – fund affordable housing and homelessness prevention. The proposed increase could generate approximately $100 million per year to expand rental assistance and prevent evictions and homelessness.
Calculated over a 30-year mortgage, the total fee amounts to around $6 a year or 50 cents a month for the home buyer.
Thank you, City of Seattle, for investing BIG in affordable homes!
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