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FHFA Launches Tools to Help Renters Facing Financial Hardship

Washington, May 5 -

The Federal Housing Finance Agency (FHFA) has launched a set of tools designed to help America’s renters understand the resources available to them if they are experiencing a financial hardship due to the coronavirus pandemic.

Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, any rental property with a mortgage backed by either Fannie Mae or Freddie Mac are covered by an eviction moratorium, and the enterprises have created lookup tools designed to allow renters to determine if their property is covered by this moratorium.

See Fannie Mae's Multifamily Loan Lookup Tool here. 

See Freddie Mac's Multifamily Loan Lookup Tool here.

If you use these tools and determine that you live in a covered rental property, here are some important things to remember:

• Renters are still expected to pay their rent during the eviction moratorium period if they can.
• If you are unable to pay your rent due to loss of income, you should first speak to your landlord about possible rent reductions or deferrals during this time rather than simply not paying your rent. The tools discussed above provide resources for talking to your landlord in these situations.
• The Department of Housing and Urban Development (HUD) has provided additional resources for renters during the COVID-19 crisis, including answers to frequently asked questions and state specific housing contacts.

If your property is not covered by this eviction moratorium, you can still work with your landlord to discuss options if you are facing financial difficulty as a result of COVID-19.

Visit Financial Services Committee Republicans’ website for additional resources and updates on efforts to mitigate the economic impact of coronavirus on consumers.