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Renters Can Check Whether Their Apartment Building Is Covered Under The Federal Eviction Ban

Those of us familiar with the FMs, Freddie Mac and Fannie Mae, might find interest in the new tool from the FHFA. The Federal Housing Finance Agency is the group that oversees the two FM’s, and their new tool now lets renters see if they’re protected under the federal eviction moratorium. What’s that?

That’s the result of an act called CARES, which came into existence due as a response to coronavirus. It protects renters involved with an FM from evictions. This is only in effect during the pandemic, but it’s hard to know how long this will last. The eviction ban is only in place while landlords seek loan forbearance, which can last for a couple of months.

FHFA Director, Mark Calabria, was quoted saying “ “Today's tool protects renters and empowers [renters] to find out if they live in a multifamily property covered by the eviction moratorium… Landlords with Enterprise-backed mortgages cannot evict tenants for failing to pay their rent if they are affected by COVID-19.”

Calabria also states that renters that can pay their rent, should.

The Tool: Click here

If your building is unprotected, you can still check if your area is. Here’s an extensive roster on states’ policies with regards to housing during the pandemic.

Remember you can always contact us here with any and all real estate questions.