Freddie Mac has extended the deadline for requesting a new or supplemental COVID-19 forbearance agreement for its multifamily loans. The new date is March 31, 2021. The program was originally set to terminate at the end of 2020.
Under the Forbearance Relief program, multifamily landlords whose properties are financed with a Freddie Mac Multifamily fully performing loan can defer their loan payments by showing hardship as a consequence of COVID-19 and by gaining lender approval.
The extension will give apartment operators additional time to request new or supplemental forbearance agreements, including renter protections such as a moratorium on evictions for non-payment of rent.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
