Today, the Federal Housing Finance Agency (FHFA) is encouraging landlords of properties backed by Fannie Mae or Freddie Mac (the Enterprises) to apply for Emergency Rental Assistance before starting the process of evicting a tenant for non-payment of rent.
“As mentioned in the joint statement issued today by the leaders of the agencies that oversee federal housing programs, billions of dollars are available in Emergency Rental Assistance to help tenants stay safely in their homes. Landlords can, and should, apply for the funds if their tenants are unable to pay rent due to financial difficulties resulting from the COVID-19 pandemic,” said Acting Director Sandra L. Thompson. “Evictions hurt families and cost landlords money, so they should be avoided if possible, especially during the pandemic. Emergency Rental Assistance is available to keep tenants in their homes while allowing property owners to collect rent.”
The Emergency Rental Assistance funds were made available by federal legislation to help tenants who are behind on rent or continuing to experience hardship due to the COVID-19 pandemic. Tenants and landlords can learn more about local Emergency Rental Assistance providers by visiting the Consumer Financial Protection Bureau’s online Rental Assistance Finder. For more information on options available to assist homeowners and renters impacted by COVID-19 visit FHFA.gov or CFPB.gov/housing.