This content was originally published by the Longmont Observer and is licensed under a Creative Commons license.
The Federal Relief Bill was passed on March 27, 2020 to speed relief across the American economy. This care includes specific relief for renters and homeowners for payment of rent and mortgages.
Renters:
The Federal Relief bill provides a temporary moratorium on evictions for nonpayment of rent for most residents of federally subsidized apartments, and also institutes a moratorium on filings for evictions for nonpayment of rent for renters in homes covered by federally-backed mortgages for 120 days since enactment. Residents who have lost income and are concerned about making a rent payment should call their landlord or property owner and explain the circumstances of their financial hardship. Residents should not just stop payments. The moratorium on evictions does not mean that rent won’t become a debt to be paid or that non-payment of rent will be exempted from eviction once the moratorium is over.
If you need assistance with negotiating a rent abatement or longer-terms payment, the City of Longmont’s Mediation Services may be able to help. Please contact Susan Spaulding at [email protected] / 303-774-4384 or Adriana Perea at [email protected] / 303-651-8721 for more information.
Homeowners:
The Federal Relief bill institutes a moratorium on foreclosures for all federally-backed mortgages, including those covered by HUD, USDA, FHA, VA, Fannie Mae and Freddie Mac, for 60 days beginning on March 18, 2020. A borrower with a federally-backed mortgage experiencing a financial hardship due to COVID-19 may also request a forbearance on their mortgage for up to 180 days, which may extend for another 180 days at the request of the borrower. Homeowners who have lost income and are concerned about making mortgage payments should call their mortgage holder directly or call the Boulder County Personal Financial Program to make an appointment by calling 720-564-2279, option 1.
