The Federal Housing Finance Agency extended the eviction moratorium until September for Fannie Mae and Freddie Mac-backed multifamily properties that had sought forbearance during the pandemic. The moratorium had previously been set to expire at the end of June.
"While COVID-19 cases are declining and many homeowners continue to emerge from forbearance, many renters, who are unable to benefit from rising home prices, have not financially recovered from the pandemic," said Director Mark Calabria in prepared remarks. "To help those families still struggling to pay their rent and to help multifamily property owners maintain their properties, FHFA is extending the multifamily COVID-19 forbearance and tenant protections through the end of September 2021."
Parsing Calabria's remarks, one might extrapolate that the Centers for Disease Control and Prevention's eviction moratorium, which is also set to expire at the end of June, could be next in line for an extension. The CDC has already extended the moratorium multiple times. In addition, renters' assistance has barely begun to be distributed by state agencies, which could prompt the Biden Administration to extend it again.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.