By Linda O’Flanagan
Multifamily borrowers with Freddie Mac loans have been granted a 90-day extension on loan payments, it was announced yesterday (Tuesday, March 23).
It was the first officially sanctioned program announced to help renters and mortgage holders following days of “guidance” from the state on who will get financial aid as the coronavirus brings New York to a standstill.
Although Governor Andrew Cuomo has said renters and mortgage holders will get relief, and REBNY has issued a pledge that its members won’t evict renters for non-payment, housing advocates say an official order must be passed.
Cea Weaver, of tenants rights group Housing Justice for All, said. “We need rent relief — in the form of canceled rent, for the duration of the crisis — now. Cuomo can do this by executive order, and he must.”