The Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) and HUD launched an online resource on mortgage and housing assistance for renters and homeowners affected by COVID-19. This joint online resource consolidates the CARES Act mortgage forbearance and eviction protections for borrowers with federally backed mortgages and tenants in federally assisted properties or multifamily housing with federally backed mortgages. It also highlights resources for additional help and information on how to avoid Covid-19 related scams. The new resource directs users to lookup tools for determining if a homeowner’s mortgage is federally backed and if an apartment/rental unit in a building with five or more units is financed by the FHA, Fannie Mae or Freddie Mac. It also lays out mortgage relief options and how borrowers affected by the economic fallout can request forbearance or mortgage relief.
Related Posts
Supreme Court Hears Oral Arguments on Local Bans on Homeless Encampments
On Monday, the U.S. Supreme Court heard oral arguments in City of Grants Pass, Oregon v. Johnson.
HUD Updates Multifamily Wind and Storm Insurance Policy
HUD announced an increase in deductibles for wind and named insurance coverage for multifamily properties financed with FHA-insured mortgages as a measure to address rising wind and storm insurance costs in recent years with extreme weather events expected to continue.
EPA Awards Solar for All Grants, NHT Selected
The Environmental Protection Agency (EPA) awarded grants under the $7 billion Solar for All program, which will create or expand existing low-income solar programs.
USDA Rural Development Decoupling Program Development Stakeholder Session – April 25
The decoupling of rental assistance from Section 514/515 loans under the Consolidated Appropriations Act of 2024 will now permit properties with Section 514/515 maturing mortgages to continue to receive rental assistance to further preserve affordable housing. A stakeholder engagement session is being held on April 25 at 2 p.m. ET and those interested in participating are encouraged to register.