CARES Act | Forbearance of Residential Mortgage Loan Payments for Multifamily Properties with Federally Backed Loans
Please note: The below information may require updating, including additional clarification, as the COVID-19 pandemic continues to develop. Please monitor our main COVID-19 Task Force page and/or your email for updates.
The federal CARES Act contains several provisions that assist borrowers of Federally backed multi-family mortgage loans who are experiencing financial hardship because of COVID-19. A copy of the current legislation can be found here – the provisions are located in Subtitle A, Title IV – Coronavirus Economic Stabilization Act of 2020. The following is a summary of the key provisions.
Eugene Paul Caiola
New York, NY