Reactions to the COVID-19 outbreak have varied greatly around the United States. While some areas are under shelter-in-place orders, others are responding in different ways, including pausing evictions. One of the challenges in pausing evictions is that how they are handled can vary both by state and by county.
The Department of Housing and Urban Development announced that it’s suspending all evictions and foreclosures until the end of April (2020). The Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to do the same for a minimum of 60 days. The CARES Act puts a 120-day eviction moratorium in place nationally for tenants in properties that are part of government programs or that have a federally-backed mortgage loan. The National Multifamily Housing Council put out a release on March 22, 2020 asking apartment owners and landlords to halt evictions for renters who were experiencing job loss or reduction in income due to COVID-19. The council went on to request a 90-day pause on all rent increases.
Read full article for city and state specific responses to COVID-19. [Source: www.fool.com real estate}
