Assistance for Landlords
The Federal Housing Finance Agency announced this week that it would be offering financial assistance to many landlords—if they don’t evict tenants in apartments for rent who’ve lost jobs or income due to the pandemic and can’t make their rent payments.
Think of it as trickle-down assistance.
Landlords will be eligible for mortgage forbearance for up to three months if they own multifamily properties, defined as buildings with five or more units.
The hope is that landlords won’t have a financial incentive to kick out renters if building owners aren’t depending on those rent checks to make their own mortgage payments.
This is the first time the government has offered anything like this before, according to a FHFA spokesman.