Mar 18, 2020
JD Supra outlines the specific provisions of the CARES Act that impact those owning smaller residential units (1-4), as well as larger multifamily assets (5+).
Jim Probasco of Investopedia outlines details of the new CARES Act which directs lenders using federally backed mortgages to suspend payments for up to 12 months if the borrower lost income due to COVID-19. Some states are also working with lenders on mortgage relief. Note that this doesn’t seem to apply to investment properties.
The Basis Point picks up on the news, giving readers highlights from the legislation and how they can pause payments, as well as why lenders may still require a further bailout.