About This Page
This page was released on April 28th, 2020. The main purpose of this page is to provide landlords and tenants the resources they need to navigate the new challenges we are faced with due to the COVID-19 crisis.
Dear Tenants and Landlords,
We put this page together as an information source for all of you. I want to remind everyone on both sides, including landlords and tenants that this is a difficulty time for everyone. Many people are unemployed, having trouble paying rent, many people are having trouble paying mortgages and it s very important that we all communicate with one another to be upfront about the current situation.
Some of the links, blogs, and videos below will assist you in navigating this problem. If you don’t find what you need please feel free to reach out to us.
-Anthony Lamacchia, Owner LPM
During this inconsistent and ever-changing time here are some recent resources to help you understand what is happening and keep you informed.
With the upcoming expiration of the Eviction Moratorium vastly approaching on October 17th, you may want to think before being too quick to evict! Governor Baker and administration announced a new $171 million initiative, named the Eviction Diversion Initiative, that will help keep people safely housed after the current Eviction Moratorium expires on October 17th.
On Tuesday, June 30th, the Baker-Polito Administration announced the launch of the Emergency Rental and Mortgage Assistance (ERMA) program that will draw from $20 million dollars to assist low-income households experiencing financial hardship due to the coronavirus pandemic. Part of the funding for ERMA includes $10 million from the supplemental CDBG Coronavirus fund, which is
Anthony recently discussed the bill with Realtors on the Crush It In Real Estate FB page. Watch here as he explains his thoughts… The highly debated and controversial bill that was aimed at pausing evictions during this pandemic was signed by Governor Baker on Monday, April 20, 2020. This is an extremely difficult time for
Tenants, be sure to keep up with the government-assisted programs that are being developed and passed to ensure financial aide to those in need.
As of Wednesday, March 25th, The Division of Banks on behalf of Governor Baker called for all regulated financial institutions to follow new guidance to accommodate borrowers who are affected by COVID-19 and cannot make timely payments. These actions include:
60-day postponement of foreclosures;
60-or-more day grace period for late mortgage payments that includes waiving late fees, online payment fees, and reporting to credit agencies;
Offering borrowers an additional 60-day grace period to complete trial loan modifications;
Ensuring the consistent availability of account management and customer service capabilities for borrowers, even if the mortgage servicer closes its office; and
Providing proactive outreach to borrowers explaining what assistance they offer.
If you are concerned about paying your mortgage, be proactive and contact your mortgage company right away. Many of them are allowing delay of payments until summer without impacting credit. Be sure to CONFIRM DIRECTLY WITH THEM and don’t take it from us.
Landlords, be sure to keep up with the government-assisted programs that are being developed and passed to ensure financial aide to those in need.