Freddie, Fannie Extend Aid to Landlords, Renters
With federal protections about to expire, landlords are being offered additional help as the COVID-19 pandemic continues. The Federal Housing Finance Agency said Monday that multifamily property owners currently in forbearance can request an extension of their payment suspension for three additional months. That will amount up to half a year in total.
The FHFA guidelines apply only to properties that have loans secured by the government-backed enterprises Fannie Mae or Freddie Mac.
Renters in these complexes should also, therefore, be protected from evictions as long as the forbearance lasts, Forbes.com reports. Landlords must be flexible in allowing renters to repay missed payments and cannot charge fees.
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