Main Menu Main Content
Print PDF

Owners of multifamily properties will see impacts from COVID-19 increase in April and subsequent months. Freddie Mac Multifamily (Freddie Mac) has announced it will offer a COVID-19 Forbearance Agreement for borrowers with Freddie Mac loans to obtain payment relief for three months. Deferred principal and interest must be paid back over a period of twelve months following the forbearance period. Borrowers must comply with covenants contained in the form agreement, including, among other things, adjourning all tenant evictions based on non-payment of rent resulting from the COVID-19 crisis and compliance with the CARES Act. Freddie Mac is agreeing to cover its own legal fees. Fannie Mae is expected to roll out a similar agreement.  

Please contact Hirschler’s real estate and restructuring teams to discuss your options, the forbearance terms and this program.

Media Contact

Luis F. Ruiz

Want to receive the very latest from Hirschler? SIGN UP NOW!
Jump to Page