The state has suspended evictions until summer—here’s what renters need to know in the meantime. The novel coronavirus has pummeled New York City’s economy, leaving workers who were gainfully employed only weeks earlier to grapple with the economic fallout. And in a city where renters make up nearly two-thirds of the population, several questions loom large: What happens if I can’t make rent? Will I be evicted? And what rights do I have as a tenant? The good news is that all tenants—residential…
Author: Catherine Doyle
Stoop Dreams
Read Dan Godon’s ny.curbed.com’s article which focuses on what is good in the COVID-19 crisis. The COVID-19 crisis has upended life in New York in many ways, some bad, and others really bad. Subway ridership has cratered. Broadway has gone dark. Bars and restaurants—at least those that aren’t offering takeout or delivery—have shuttered, with more closing their doors by the day. These closures haven’t just devastated individuals’ livelihoods; they have abruptly, but hopefully not irreparably, destroyed the social vibrancy and spontaneity that makes New York…
What NYC Renters Need to Know During COVID-19
As the COVID-19 pandemic continues to upend life in New York City, there’s a looming worry among renters throughout the five boroughs: What happens on April 1? For many tenants, that’s the next date that rent is due; but if people are out of work or have lost other sources of income as a result of the outbreak, they may not be able to pay rent. Other New Yorkers who were planning on moving at the beginning of the month are now…
Clarification with respect to real estate activities during COVID-19
Important Update from your 2020 NYSAR Leadership Team Regarding Real Estate Activities During the COVID-19 State of Emergency As of 8:00 pm tonight, March 22, an Executive Order (EO) by Governor Andrew Cuomo effectively restricts real estate licensees from working outside of their homes. Real estate brokerage and many other businesses were not designated as essential by the Governor in the EO. It has been widely reported that New York State is the most COVID-19 impacted state in the nation. …
U.S. Orders Up To A Yearlong Break On Mortgage Payments
Homeowners who have lost income or their jobs because of the coronavirus outbreak are getting some relief. Depending on their situation, they should be eligible to have their mortgage payments reduced or suspended for up to 12 months. Federal regulators, through the mortgage giants Fannie Mae and Freddie Mac, are ordering lenders to offer homeowners flexibility. The move covers about half of all home loans in the U.S. — those guaranteed by Fannie and Freddie. But regulators expect that the entire mortgage industry will quickly…