Landlords Granted U.S. Mortgage Relief If They Delay Evictions
- Fannie, Freddie to offer forbearance on multifamily properties
- FHFA wants millions of renters to remain in their apartments
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Lots of U.S. landlords may be allowed to fall behind on their mortgage payments amid the coronavirus outbreak in return for not kicking renters out of their apartments.
The Federal Housing Finance Agency said Monday that Fannie Mae and Freddie Mac will grant mortgage forbearance to owners of multifamily properties in exchange for suspending evictions. The move applies to all Fannie and Freddie-backed mortgages in situations where renters can’t afford to make their monthly payments due to coronavirus.