Fannie Mae (OTCQB: FNMA) announced it has introduced a Renters Resource Finder to help renters facing financial hardship due to COVID-19 understand the options available to them. The Renters Resource Finder is an online tool that identifies apartments and other multifamily properties financed by Fannie Mae, whose residents are eligible for eviction protection under the federal CARES Act along with other resources.
“In times of uncertainty, it is essential to have trusted resources to help inform our decisions, and Fannie Mae is here to help bridge that information gap. Renters and homeowners should not have to navigate a barrage of confusing and sometimes misleading information,” said Jeffery Hayward, Executive Vice President, Fannie Mae Multifamily. “Our Renters Resource Finder, part of our ongoing Here to Help education effort, will empower people in apartments to better understand their options.”
Under the CARES Act, residents of multifamily rental properties (those with five or more units) with a Fannie Mae-backed mortgage are covered by a temporary eviction moratorium. With the Renters Resource Finder, residents can find out if they are eligible by entering their building address to see if it is Fannie Mae-financed. It also matches them with available resources and helpful information. If they live in a Fannie Mae-financed property, they will have access to Fannie Mae’s Disaster Response Network™, which offers free help navigating the broader financial challenges caused by COVID-19. It includes:
- access to HUD-approved housing counselors who can create a personalized action plan, offer financial coaching and budgeting, and provide other support for up to 18 months;
- federal and state housing assistance information; and
- guidance on unemployment benefits, nutritional assistance, and any other available programs.
The Renters Resource Finder, the Disaster Response Network, and Fannie Mae’s KnowYourOptions.com website are part of our ongoing Here to Help education effort, which includes resources aimed at helping renters and homeowners impacted by COVID-19.
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