While the federal ban on evictions that protects renters in counties with high COVID-19 transmissions rates has ended, several state and local eviction moratoriums remain in effect. A new tool for renters — and landlords — is available for those seeking rent-related financial help. 

If your renters are struggling due to COVID-19- related hardships, they can apply for funds to pay their rent and utilities or pay any back-rent owed. You, too, can apply to recover rent owed by your tenants.

And, as a homeowner, you also could be eligible for relief through your mortgage provider or servicer. 

Here’s what you need to know about the latest eviction ban and how to access help if you’re struggling to pay your mortgage.

Do I qualify for assistance? 

According to the federal Consumer Financial Protection Bureau, “3 in 4 programs funded by the U.S. Treasury Department’s Emergency Rental Assistance (ERA) Program take applications from landlords.”

Your tenant may require information from you to complete the process since rent payments made from the program are usually paid directly to the landlord. 

The federal assistance program could cover up to 18 months of rent, including back-rent and future payments where the money is available.

Where can my tenants access help paying rent or utility bills?

The financial protection bureau launched a new emergency rental assistance finder online. If your tenants need help paying rent, including utilities that came due during the pandemic, they can input their location to find programs in their area, and connect with a housing counselor to get help with their application: ConsumerFinance.gov/RentHelp

What can I do if my tenants haven’t paid their rent?

Beyond working out a repayment agreement that allows your tenants to pay back the rent they owe in increments, your options are likely to be affected by the federal CARES Act — the Coronavirus Aid, Relief and Economic Security Act that provides economic assistance to businesses and individuals affected by COVID. The law has been in effect since March 2020.

Under the Act, you may be eligible for mortgage and credit relief if your tenants’ inability to pay rent causes you financial hardship. The CARES Act gives homeowners a right to forbearance — the ability to suspend or reduce mortgage payments — for up to a year if you meet two conditions: 1) You have a  federally backed mortgage loan, and 2) you’ve experienced a financial hardship related to the coronavirus.

Your mortgage servicer will be able to tell you if your loan is federally backed and what options you may be eligible for. (Your mortgage servicer is the company where you send your monthly payments and may be different from the place where you got your original mortgage.)

To request forbearance, contact your mortgage servicer to let them know you’re experiencing financial hardship during the COVID-19 emergency. You must contact them to be eligible for forbearance.

The CFPB says it’s important to work out a plan with your mortgage servicer to avoid foreclosure.

If you have a federally backed mortgage, the CARES Act bars lenders and loan servicers from beginning or finalizing a foreclosure on your property through December 31, 2021. The CARES Act also requires a 30-day eviction notice for covered properties.

If you don’t have a federally backed mortgage, you may still be eligible for forbearance or another payment arrangement. Contact your loan servicer to ask about options that may be available to you.

Landlords’ credit also may be protected

If you arrange forbearance or make some other modified payment agreement with your loan servicer — and follow the terms of the agreement — your credit also may be protected. Under the law, lenders who provide forbearance can’t report you to credit bureaus until 120 days after the president declares the national COVID emergency period is over, whichever is later. The credit reporting protection is only available to you if you have a forbearance or modified payment agreement in place with your loan servicers, so it’s important to contact them as quickly as possible.

For more information on mortgage relief options, visit the CFPB.