Federal Housing Finance Agency (FHFA) Extends Multifamily Forbearance Through June 30: What It Means

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Apartment owners with forbearance agreements will receive an extension through June 30, 2021.  As part of their forbearance agreements, landlords must:

 

  • Agree to not evict tenants due to the non-payment of rent while their loans are in forbearance. Housing providers canstill evict tenants if they violate other lease terms, for example, smoking inside the building when that's prohibited or making excess noise late at night.
  • Inform residents about the available protections in writing
  • Give residents flexibility to catch up on overdue rent. This includes not forcing tenants to repay back rent in a single lump sum.
  • Not charge residents late fees for overdue rent.
  • Give residents a minimum of 30 days of notice in situations where they have the right to remove a resident….Read more.