Foreclosure, eviction stay extended, other pandemic aid still available

The FHA announced Thursday (Aug. 27) that Fannie Mae and Freddie Mac will extend foreclosure and eviction moratoriums until at least Dec. 31 of this year. Those protections under the CARES Act, offered to homeowners who have FHA-insured mortgage loans, were supposed to expire on Aug. 31.

Homeowners with these loans who are able to make their regular payments should still do so. Those experiencing financial hardship due to COVID-19 should contact their mortgage servicer and request a forbearance on mortgage payments. Remember that the CARES Act entitles you to a forbearance of up to 180 days at your request, and an extension of an additional 180 days at your request.

There are a number of programs still available to homeowners, renters and nonprofits seeking relief during the pandemic.

 Cobb homeowners behind on mortgage payments can apply for assistance from the Cobb County Homesaver Program. Homeowners who can document that they lost a job or 20% of their income due to the COVID-19 pandemic and who have returned to work may be eligible for a one-time payment of up to $4,800.

 For those still unemployed or underemployed, you may receive up to three months of mortgage assistance, again up to $4,800.

Cobb also using CARES act funding to help apartment renters facing eviction. Renters who live in qualified apartment communities may receive a grant of up to 70% of their rent delinquency providing they can cover 20% of what is owed.

For eviction relief information, see star-c.org.

Cobb County is also extending federal relief to eligible nonprofit organizations. The county received $132 million under the CARES Act. Grants from $2,500 to $25,000 may be used toward rehiring and retaining employees and other business expenses based on the number of pre-pandemic full-time employees.

Applications open August 27 and close Sept. 11 at 5 p.m.

An informational webinar is scheduled at 9 a.m. Wednesday, Sept. 2. Visit the Cobb Chamber of Commerce website to register.

For grant information, go to SelectCobb.com/nfpgrants for eligibility requirements and application.