Section 4024 of the Coronavirus Stimulus Bill prevents property owners with Federally backed mortgage loans from evicting tenants for non payment of rent.
The eviction moratorium applies to any tenant living in a cooperative, condominium, 1 to 4 family building or a multifamily (5 or more residential units) building. The eviction moratorium also applies to tenants living in housing under the Violence Against Women Act of 1994 and rural housing under section 542 of the Housing Act of 1949.
The eviction moratorium prevents a property owner from serving notices or starting legal proceedings in court for non payment of rent. The eviction moratorium prevents a property owner from charging late fees or any other fees for non payment of rent. A property owner must give a minimum 30 day notice to vacate after the expiration of the eviction moratorium.
The eviction moratorium begins on March 27, 2020 and remains in effect for 120 days.
The eviction moratorium does not apply to Federally backed construction loans or any other type of Federally backed temporary financing.