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FHFA Extends COVID-19 Forbearance Through June 30 for Qualified Fannie, Freddie Multifamily Mortgagees

Thursday, March 4, 2021 - 11:15AM

The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will offer COVID-19 forbearance to qualifying multifamily property owners through June 30. The forbearance was scheduled to end March 31 and is subject to the continued tenant protections FHFA imposed during the pandemic. Property owners with Fannie- or Freddie-backed multifamily mortgages can enter a new or modified forbearance if they experience a financial hardship due to the COVID-19 emergency.

For property owners helping tenants apply for Emergency Rental Assistance (ERA) program funds, Novogradac can assist with reviewing tenant eligibility for the ERA, reviewing ledgers to assist in reconciling amounts for which the tenant may be eligible and assisting with reporting requirements to the grantee. 

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