The Eviction Affliction: No late fees or evictions for the next 120 days You may have heard that part of the CARES Act includes a moratorium on evictions and late fees for the next 120 days.
Let’s break it down
Only for covered properties
Federally backed loans
Others
Properties Not covered
Properties with no mortgage
Loans from sources other than those backed by the Federal government
As a resident, how are you supposed to know if the property you live in is a covered property?
You probably can’t know.
And, in reality, the courts are not processing evictions and the Sheriff’s departments are not processing the lock outs.
If a landlord tries to evict, the case will be thrown out.
Most landlords are not actively trying to evict residents during this crisis. Even the most unscrupulous landlords know that, you, the resident are going to be getting funds in the form of unemployment and direct payments from the state and federal government over the next 3-6 weeks. They want to keep you in the property. Landlords want to work with you.
But knowing if you are covered under the Eviction Moratorium is less important than working with your landlord to find a solution that works for both of you.
Even if you live in a covered property, the Eviction Moratorium doesn’t remove your obligation to pay rent.
Once the Moratorium expires, you will still be on the hook for the full rent amount.
It is in your best interest to keep your rent current to avoid eviction down the road and damage to your credit.
We will get through this. By limiting the damage, you can help your family recover quickly down the road once the Corona Virus passes and the economy opens and we all get back to work.
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support@expressrpm.com
605-274-7373
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