Your Rights and Protections Under the CARES Act

In response to the spread of the COVID-19 coronavirus, the federal Government passed the Coronavirus Aid, Relief, and. Economic Security CARES) Act in March 2020. The bill provided sweeping protections for renters and homeowners alike. Take a look below at how these changes may impact you and your family.

Protections

  • A 60-day cease of foreclosures on any federally backed mortgage loans effective as of March 18th; 
     
  • Up to 180 days of forbearance (with an additional 180-day extension if necessary) for any borrowers of federally backed mortgage loans (FHA, Fannie Mae and Freddie Mac) suffering financial hardship as a result of the pandemic; 
  • Up to 90 days of forbearance for multifamily borrowers who have experienced a financial hardship, in exchange for an agreement not to evict tenants or charge late fees during the forbearance period;
     
  • A 120-day prohibition on initiating legal action to recover possession of a rental unit or to charge fees, penalties, or other charges to the tenant related to such nonpayment of rent where the landlord’s mortgage on that property is insured, guaranteed, supplemented, protected, or assisted in any way by HUD, Fannie Mae, or Freddie Mac. 
     
  • For those families who are eligible, they will receive $1,200 payments for each adult and $500 for each child under the rebate program. These payments are available to households Internal to the Urban League Movement. 5 that filed a federal tax return for 2018 or 2019 even if the household paid no taxes. This is important because households with incomes under $25,000 are not required to file tax returns since they have no federal tax liability, so many do not routinely file taxes. As a result, many low-income families may not get a check unless they file a tax return by July 15th (the new extended tax filing deadline). 

Interested in learning more about our work? Check out our campaign the Urban League Fights for You.