Fannie Mae has extended its multifamily COVID-19 forbearance program through March 31, 2021, three months past its original sunset date of December 31, 2020.
To qualify forbearance coverage, multifamily owners must agree to suspend all evictions for renters unable to make rent payments during the forbearance period, according to an announcement from Fannie Mae.
"Fannie Mae is proud to extend forbearance options to protect multifamily tenants and assist property owners financially impacted by COVID-19," Michele Evans, EVP and head of multifamily, said in a statement. "The forbearance extension will continue to safeguard renters by suspending all evictions for nonpayment of rent and allow for flexible repayments, which will help keep people in their apartments."
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