Today, the Biden Administration announced an “out-of-this-world” initiative aimed at providing relief and support to homeowners residing in the path of the upcoming total solar eclipse that will transit parts of the United States on April 8th. The Mortgage Obligation Offset for Natural Interstellar Events (or “MOONIE”) Program, a first-of-its-kind effort, is intended to address the unique challenges faced by communities impacted by natural celestial phenomena.
Under the MOONIE Program, homeowners within the eclipse’s path of totality who have government-insured loans or mortgages owned by Fannie Mae and Freddie Mac will have the opportunity to apply for forgiveness of a portion or all of their mortgage debt. To be eligible for forgiveness, homeowners must provide evidence of eclipse-related stress, such as the financial burden caused by purchasing eclipse glasses or the unstoppable fear of impending doom caused by supernatural forces beyond all human comprehension.
“The Biden Administration is committed to supporting Americans facing celestial adversity, and the MOONIE Program is a testament to that commitment,” said Luna Skywalker, HUD’s Under Secretary of Astrological Affairs, at a press conference announcing the initiative. “By offering loan forgiveness to eligible homeowners in the eclipse path, we’re ensuring that families can weather this natural phenomenon without undue financial hardship.”
The Office for Human Research Protections has been tasked with developing the portal due to the sensitive nature of the information the Administration says applicants will be required to provide. Applications for forgiveness must be submitted while the Moon’s penumbra is touching the Earth – between 10:42 a.m. CDT and 3:52 p.m. CDT on April 8th.
Although critics have questioned whether the President has the authority to unilaterally establish a loan forgiveness program, the Administration pointed to language in the Promoting Research and Observations of Space Weather to Improve the Forecasting of Tomorrow Act for Congressional authorization. The 2020 Act—which is real—mandated that “it shall be the policy of the United States to prepare and protect against the social and economic impacts of space weather phenomena,” and the Administration believes this language grants the President the authority to implement the MOONIE Program.
If the Program proves successful, there is talk within the Administration of expanding the MOONIE Program to other celestial events, such as the transit of Venus, selenelion, where the Sun and the Moon are both visible above the horizon during a lunar eclipse, or the transit of interstellar ʻOumuamua-like objects through the solar system.
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