Freddie Mac has announced it is still open for business, and yesterday, March 24, 2020, it also announced a nationwide relief plan for Freddie Mac Multifamily borrowers and properties impacted by COVID-19.
Multifamily landlords may defer loan payments on performing Freddie Mac Multifamily loans for up to 90 days due to hardships caused by the coronavirus. In return, landlords must agree not to evict any tenant based solely on non-payment of rent during loan forbearance.
Freddie Max anticipates the program will provide relief for roughly 4 million rented across more than 27,000 properties. For updates on Freddie Mac’ Forbearance Program visit their Multifamily page:
At Valor Lending Group we continue to keep a close eye on the pulse of the market. We are still funding Non-QM, Fannie/Freddie, FHA, VA, and other Government Loans, as well as hard money loans.
Let’s talk today to discuss how Valor can assist in the current market.