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1 1 (September 10, 2020)

handle is hein.crs/govdbwp0001 and id is 1 raw text is: Researh Setwkc COVID-19: Financial Relief and Assistance Resources for Renters September 10, 2020 This Insight highlights resources from selected federal agencies and other organizations that may aid renters at risk of eviction due to c ircumstanc es related to the Coronavirus Dis ease 2019 (COVID- 19) pandemic. These resources provide information on COVID- 19 related renter protections and resources at federal, state, and local levels. Renter Protections at the Federal Level The Coronavirus Aid, Relief, and Economic SecurityAct (CARES Act; P.L. 116-136) provided a temporary moratorium on eviction filings for nonpayment of rent against renters residing in federally assisted properties or properties with federally backed mortgages. This moratorium went into effect upon enactment of the CARES Act on March 27, 2020, and lasted for 120 days (through July 24, 2020). Landlords were required to provide at least 30 days' notice before renters had to vacate the property (not before August 23, 2020). Additionally, the CARES Act contained mortgage relief provisions for properties with federally backed mortgages, including the availability of mortgage forbearance. Property owners with federally backed multifamily mortgages that receive forbearance are required to abide by certain protections for renters for the duration of the forbearance. Multifamily mortgages are mortgages on properties with five or more housing units. * For an analysis of CARES Act protections for tenants, see CRS Insight IN11320, CARES Act Eviction Moratorium. * For an analysis of CARES Act mortgage provisions, see CRS Insight IN11334, Mortgage Provisions in the CoronavirusAid, Relief and Economic Security (CARES) Act. On June 29, 2020, the Federal Housing Finance Agency (FHFA) announced that multifamily property owners with existing mortgages in forbearance may extend forbearance for an additional three months, beyond the 90 days provided for in the CARES Act, for a total of up to six months of forbearance on mortgages backed by Fannie Mae or Freddie Mac. Required renter protections must continue during the extended forbearance period. Congressional Research Service https://crsreports.congress.gov INI 1498 CRS MNS GHT Pre.pared -or Mc-mnbersand C.om rn fte $ o go n : r -- --- .. . .. . . .. . . .. . . .. . . ..------------------------------------------------------------------------------------------------------------------------------------------------------------

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