The Federal Housing Finance Agency (FHFA) has released several updates to its guidance since the coronavirus outbreak.
Foreclosures and Evictions Suspended
The FHFA has suspended foreclosures and evictions for at least 60 days and offered forbearance for borrowers who are facing hardship from the coronavirus.
Mortgage Payments for Landlords Suspended
The FHFA suspended mortgage payments for landlords who are facing hardship with their buildings due to the coronavirus outbreak. Multifamily owners with loans serviced by Fannie Mae and Freddie Mac may be eligible for financial relief, but they must agree to not evict tenants during the outbreak.
“Renters should not have to worry about being evicted from their home, and property owners should not have to worry about losing their building due to the coronavirus,” FHFA director Mark Calabria said in a statement.