NAHMA USDA Update: USDA Rural Development Office Issues Section 538 Forbearance Guidance April 17, 2020

April 17, 2020

Dear NAHMA Members,

 

Below, please find an update from USDA Rural Development’s Office of Multi-Family Housing. This update includes Section 538 Forbearance Guidance, including:

 

  1. Measures to Keep Section 538 Mortgages Current
  2. Guidelines for Forbearance of Standalone Section 538 Loans
  3. Guidelines for Forbearance of Section 538 Loans with Subordinate Section 515 Loan(s)

 

The Section 538 Forbearance Guidance is attached and can also be found HERE. These resources, and may others, are also posted to the NAHMA Coronavirus Resources webpage at https://www.nahma.org/coronavirus-information-and-resources/.