Multifamily Property Owners Mortgage Forbearance
Hey friends, Leigh Brown here with One Community Real Estate™. And as you know, I’m a REALTOR®. I’ve been a REALTOR® for 20 years and I am proudly involved in the property rights advocacy that the REALTORS® do. What I want y’all to know is we just got amazing breaking news and I’m very grateful to the lobbyists who are working on behalf of every property owner during this time of crisis, and I’m grateful for our REALTOR® champions inside the organizations that need to listen. The Federal Housing and Finance Agency today announced that Fannie and Freddie will be offering the forbearance on mortgages to multi-family property owners under the condition that they’re suspending evictions for renters unable to pay during Coronavirus impact. Y’all this is a big deal. There’s been a lot of talk about renters not having to pay their rent and not being able to be evicted. But if that’s going to happen, you have to understand that a lot of the landlords who own those buildings are small investors. They are family businesses and often that’s the investment portfolio. So if they don’t have rents what happens to their note? This is wonderful news that there’ll be forbearance on their mortgages. For more information, click on the links here and make sure that you tune in. I’ll be glad to share updates as I get them. As an investor, I will tell you all this gives me peace of mind, so that I can be very easily able to say yes to helping the tenants in my properties should they become in the place where they need it. Tune in, I’ll see y’all next time. And by the way, thank a REALTOR® who wears this pin, that’s why these things are happening.