Removing Barriers Blog

FHFA Extends COVID-19 Multifamily Forbearance Until Sept. 30
Posted June 03, 2021 by CUNA Advocacy

The FHFA has announced that it will extend to availability of COVID-19 forbearance, scheduled to expire on June 30, 2021, to qualifying multifamily property owners until September 30, 2021. In the announcement, the FHFA recognized that while COVID-19 cases are declining, many renters are still recovering financially and may need additional time to enter into a paying status. A homeowner who enters into forbearance must agree not to evict tenants solely for nonpayment of rent while the property is in forbearance, provide notice of that fact, and offer some additional protections during the repayment period, such as not charging late fee. The FHFA has not announced any extension of its forbearance programs or foreclosure moratorium for single-family mortgages, currently set to expire on June 30, 2021.