"Biden Administration Extends Eviction Freeze: What to Do If You're Struggling to Make Payments."
In an article published by Fox Business on July 30, 2021, Partner Matthew Kramer is quoted discussing the implications of the expiration of the CDC's eviction moratorium for residential landlords and tenants.
"While there are programs in place in various states and principalities to provide assistance to renters either in terms of financial support or in the eviction process, ultimately once the moratorium expires there are few protections for renters who are unable to pay," Kramer explains.
As welcome news to renters, "the Federal Housing Finance Agency (FHFA) and the Federal Housing Administration (FHA) each announced Friday that their coronavirus pandemic-driven eviction moratoria, which protect homeowners and renters from eviction in the event of nonpayment of rent, will be extended through Sept. 30, 2021." Once this moratorium expires, renters will be left with few protections.
"It's a challenging market right now to buy and to rent," Kramer says. "There is very little inventory, and large cities across the country are facing shortages in housing options, affordable housing options in particular. It's a supply and demand issue that perhaps will spur on more affordable housing projects and the like."
For the full article, click here.