Biden administration extends eviction freeze: What to do if youâre struggling to make payments
By Kelsey Ramirez
The Federal Housing Finance Agency (FHFA) and the Federal Housing Administration (FHA) each
announced Friday that their coronavirus pandemic-driven eviction moratoria, which protect homeowners and renters from eviction in the event of nonpayment of rent, will be extended through Sept. 30, 2021.
The FHFA s single-family real estate owned (REO) moratorium was set to expire on July 31, 2021 and applies to properties acquired by mortgage giants Fannie Mae or Freddie Mac through foreclosure or deed-in-lieu of foreclosure transactions or properties backed by the FHA. The pandemic continues to have an outsized impact on the ability of Americans to meet their monthly rent or mortgage payments,
Biden administration extends eviction freeze: What to do if you re struggling to make payments
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What Mom-And-Pop Landlords Can Do To Relieve Eviction Ban Pressure
February 12, 2021 11:10 AM Natalie Campisi - Forbes Advisor
Posted:
Updated:
February 14, 2021 7:33 AM
Earlier this month, the Centers for Disease Control and Prevention (CDC) extended the renter eviction moratorium through March 31, which is good news for renters impacted by Covid-19. But the ban is putting additional pressure on small landlords, known as “mom-and-pop landlords,” struggling to pay their bills.
In some states, moratoriums are scheduled to last even longer. California, for example, extended its moratorium to June 31, and New York has pushed its moratorium deadline back until May 1.
Around 20% of renter-occupied households, or nearly 10 million households, were behind on rent at the end of January, according to data from the U.S. Census Bureau. The total amount of back rent is unknown, but Moody’s Analytics estimates that delinquent renters owe, on average, about $5,586 each. In