Housing

Updated February 23, 2021

Rent Relief

Treasury Department's — A $25 billion Emergency Rental Assistance program made funds available to assist households that are unable to pay rent and utilities due to the COVID-19 pandemic. The funds were directly to States, U.S. Territories, local governments, and Indian tribes. Grantees use the funds to provide assistance to eligible households through existing or newly created rental assistance programs.  Revised FAQs were issued on February 22.

Eviction Moratoriums

Centers for Disease Control and Prevention — The CDC extended their national moratorium on most evictions for nonpayment of rent through March 31, 2021. The moratorium does not apply to any state, local, or tribal area that has an eviction moratorium that “provides the same or greater level of public-health protection than the requirements” in the CDC order. At the end of the moratorium, tenants will owe any unpaid rent — and landlords are not prevented from charging or collecting fees, penalties, or interest as a result of a tenant’s failure to pay rent on time. To be protected, qualified renters facing eviction must provide a signed declaration to their landlords. Resources: 

The Federal Housing Finance Agency — The FHFA announced that Fannie Mae and Freddie Mac will extend the moratoriums real estate owned (REO) evictions until March 31. The REO eviction moratorium applies to properties that have been acquired by an Fannie Mae and Freddie Mac through foreclosure or deed-in-lieu of foreclosure transactions. Access renter relief information from Fannie Mae and Freddie Mac. 

Additional resources:

Foreclosure Prevention / Mortgage Relief

On February 16, the White House announced a coordinated extension and expansion of forbearance and foreclosure relief programs by HUD, the VA and USDA. The actions will:

  • Extend the foreclosure moratorium for homeowners through June 30, 2021;
  • Extend the mortgage payment forbearance enrollment window until June 30, 2021 for borrowers who wish to request more time to pay their debt;
  • Provide up to six months of additional mortgage payment forbearance, in three-month increments, for borrowers who entered forbearance on or before June 30, 2020. 

Additionally, on February 9 the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac are extending the forbearance period for eligible backed mortgages, who are on a COVID-19 forbearance plan as of February 28, 2021, by up to three months. The announcement provides details. According to the White House, the coordinated efforts will cover 70 percent of existing single-family home mortgages. 

Additional resources:

Multifamily Housing

Access information from HUD, Fannie Mae, Freddie Mac, the National Multifamily Housing Council , and the National Housing Conference.