General World News

FHFA extends multifamily forbearance through June 30

Multifamily property owners who are struggling to make mortgage payments due to the coronavirus pandemic now have a reprieve through the end of June for mortgages backed by Fannie Mae and Freddie Mac, the Federal Housing Finance Agency announced on Friday.

Forbearance options for multifamily mortgages backed by the GSEs were set to expire on Mar. 31, but the FHFA has extended that till June 30, 2021, provided landlords are also extending benefits to their renters. Landlords must:

  • Inform tenants in writing about tenant protections available during the property owner’s forbearance and repayment periods; and
  • Agree not to evict tenants solely for the nonpayment of details ⇒

    BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com