Apr 20 2020
The recent business shutdowns and other measures used by federal, state, and local governments throughout the country to slow the spread of the COVID-19 pandemic have limited the ability of many property owners and tenants to earn income. As a result, many borrowers are unable to make scheduled mortgage payments and tenants are unable to pay rent. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, includes moratorium provisions that protect the right of these borrowers and tenants to remain in their dwelling without facing the threat of immediate foreclosure and eviction.