The Federal Housing Finance Agency has announced that residents of multifamily properties with mortgages backed by Fannie Mae or Freddie Mac must be given 30 days' notice to vacate before being evicted for not paying rent. The FHFA says this requirement applies to all agency-backed multifamily properties, regardless of whether the loan is in forbearance.
On July 31, the Centers for Disease Control and Prevention's eviction moratorium expires, assuming the Biden Administration doesn't secure an extension from Congress.
For Fannie Mae and Freddie Mac-backed properties that sought forbearance during the pandemic, the FHFA has set an eviction moratorium until September.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
