COVID-19 Rent & Mortgage Relief
During these uncertain and challenging times many people are struggling to cover their basic, but most important expenses; rent and mortgage. This page is meant to be a resource and help you find the answers you are looking for.
Executive Order
Read Governor DeSantis' Executive Order No. 20-94 regarding mortgage foreclosure and eviction relief extended until Juy 1, 2020.
COVID-19 Resources
Explore business and employee resources that will help you navigate these uncertain times.
How Can We Help?
Contact Destin Wells, VP of Business Development, to see how we can help you thrive in Sarasota County.
Foreclosure and Eviction Moratorium
On September 1st Govenor Ron DeSantis signed an Executive Order extending Florida’s eviction and foreclosure moratorium until October 1, 2020.
The moratorium only applies to those “adversely affected by the COVID-19 emergency,” and that all missed rent and mortgage payments are due when the tenant or borrower “is no longer adversely affected by the COVID-19 emergency,” which the order defines as a job loss or other income reduction.
Read the Govenor’s Executive Orders
Temporary Halt in Residential Evictions
Centers for Disease Control and Prevention
The Trump administration has ordered a halt on evictions nationwide through December 31, 2020 for people who have lost work during the pandemic and don’t have other good housing options. The new eviction ban is being enacted through the Centers for Disease Control and Prevention. The goal is to stem the spread of the COVID-19 outbreak, which the agency says in its order “presents a historic threat to public health.” Read the full order.
Sarasota County Rental Assistance Program
The Coronavirus Relief Funds (CRF) Rental Assistance Program is in response to the impact of the COVID-19 pandemic and provides rental assistance to persons who have been directly and negatively impacted by COVID-19. Residents of Sarasota County who have been impacted by the coronavirus pandemic and have experienced unemployment or underemployment may apply for rental assistance to prevent eviction. The funds can cover rental arrears dating back to March 1, as well as current rent due. Assistance may not exceed five months’ worth of rent and $9,000 in total. Sarasota County residents may request up to five (5) months of rental assistance (current rent or rental arrears) for a rental unit in Sarasota County, with a maximum of $9,000 total in rental assistance offered on a first-eligible, first-served basis. Household income must be at or below 80% of the Area Median Income based on limits published by the U.S. Department of Housing and Urban Development, adjusted by household size.
OHCD will accept applications September 8, 2020 through September 30, 2020 and will determine applicant assistance eligibility. Applicants may access the application on this page beginning September 8, 2020. A limited number of hard copies of the application will be available at each public library and at the City Hall Annex at 1565 First Street, Sarasota, FL 34236 on September 8, 2020 at 10 a.m.
Payments will be made to landlords or property management companies, not to individual applicants. The landlord must agree to participate in this program and will be responsible for providing a current lease with the applicant, a notice of delinquent rent (if applicable), as well as a completed W-9 form. Lean more here.
Florida’s CARES Act Funding
On June 25th Governor DeSantis announced $250 million in CARES Act funding for rental and mortgage assistance for Florida families that have been negatively impacted by the COVID-19 pandemic.
Rental Assistance for Affordable Rental Housing Tenants
Administered by Florida Housing Finance Corporation (FHFC), $120 million will be provided in short-term rental assistance for COVID-19 impacted households residing at multifamily rental properties in FHFC’s portfolio. FHFC will reimburse participating properties to subsidize eligible households’ rents for each impacted month. The rental assistance will be available to help pay a household’s rent for eligible months from July through December 2020. The household may be eligible for assistance to pay rent arrearages accrued during the months of April, May and June 2020.
Rent and Mortgage Assistance
A separate pool of $120 million will be released to counties based on a county’s reemployment assistance rate for the determined disbursement period. These funds would be used for rental and homeowner assistance programs such as new construction, rehabilitation, mortgage buydowns, down payment and closing cost assistance, emergency repairs and homeownership counseling for individuals impacted by COVID-19. The allocation also includes $200,000 for technical assistance to local governments. Read more here.
For additional program information or to speak to a representative, call Florida Housing’s toll-free Coronavirus Relief Fund Information Line at 1-888-362-7885. Open Monday – Friday 9 a.m. to 7 p.m.
Florida Housing Finance Corporation
227 N. Bronough Street, Suite 5000
Tallahassee, Florida 32301
(850) 488-4197
Contact Form
United Way’s 2-1-1
If you need further assistance paying your rent, mortgage, utilities and other necessities there are networks to support people in this time of crisis and the best way to find them is through United Way’s 2-1-1, a free 24 hour, 7 day a week, year-round service that connects area residents to critical health and social service resources.
There are multiple ways to access this resource:
By phone – Dial 211
By Email – [email protected]
By Online Chat at – https://211.gs-humanservices.org/
By Text – Text zip code to 898-211
Mortgage Payment Suspension: Fannie Mae or Freddie Mac
Borrowers whose mortgages are owned by Fannie Mae or Freddie Mac to delay payments. This forbearance program allows for a mortgage payment to be suspended for up to 12 months due to hardship caused by the coronavirus.
Federal housing officials have also announced a nationwide eviction and foreclosure moratorium for borrowers of Fannie or Freddie mortgages, or borrowers whose loans are backed by the Federal Housing Administration — so-called F.H.A. loans. This includes foreclosures that are already in progress.
To find out if Fannie or Freddie own your mortgage, you can search your address on this federal government site.
Federal regulators have told landlords whose own mortgages are owned by Fannie or Freddie that they too can use forbearance, just as long as they do not evict tenants after they pause their mortgage payments. The challenge for renters is figuring out whether their landlord has such a mortgage.
FHFA, the Department of Housing and Urban Development (HUD) and the Consumer Financial Protection Bureau (CFPB) created a combined website for housing information related to the COVID-19 pandemic. It can be found on the CFPB’s website at cfpb.gov/housing.
Banking & Mortgage Assistance
Here you will find a list of the banks location in our region. The information has been compiled through various sources, including the American Banking Association website. Please follow the link to each program/bank for the most up-to-date information.
Bank Of America
- Committed $100 million to support local communities in need as the world faces unprecedented challenges from the coronavirus. The funds will help increase medical response capacity, address food insecurity, increase access to learning as a result of school closures, and provide support to the world’s most vulnerable populations.
- Working to identify and assist affected clients and provide the right support to address their unique personal needs. Offering assistance to qualifying consumer and small business clients facing hardships, including deferred payments and forbearance with certain fees.
Bank of Tampa
- For any clients who may have financial concerns during this time, we want to be of assistance. If we have not already been in touch with you directly, please reach out to your relationship manager or our Client Service Center at (813) 872-1200. We are available for you by appointment at any of our offices.
- We are monitoring new federal programs, and we look forward to working with your individual family or business as these programs become available.
- Credit Card Accounts: For statements received from April 1, 2020 to May 31, 2020, The Bank of Tampa is offering Skip-A-Pay, which allows accounts in good standing to skip the minimum payment due during that time. No action is required to enroll. However, it is important to understand that financial charges will continue to accrue.
- Penalty-Free CD (Certificate of Deposit) withdrawal, allowing clients to make one withdrawal without penalty between now and May 31, 2020.
BBVA Compass
- If you have been impacted by the Coronavirus and need a real estate loan, installment loan, credit card, Small Business / SBA loan payment deferral or extension, click here to fill out a payment relief form.
- Waived and refunded ATM fees charged by other banks / ATM networks to use their ATMs. Available upon request.
- Penalty free CD withdrawals, for CDs opened prior to March 1. Available upon request.
- Consumers and small businesses may request refunds of overdraft fees.
BB&T/Suntrust/Truist
Actively support the cash flow needs for our retail and business clients who are affected by the COVID-19 pandemic through a number of lending programs. Our branch bankers, relationship managers and contact center teammates are committed to working with you to reduce financial stress during this challenging and uncertain time.
- Heritage BB&T clients, please contact 800-226-5228
- Heritage SunTrust clients, please contact 877-820-2103
BMO Financial
Providing personalized relief program to customers who have been financially impacted by coronavirus, including fee reversals on deposit accounts, waiving penalties for early CD withdrawal, and payment forbearance and deferral options for personal and small business loans as well as credit cards.
Capital One
Offering a number of different concessions to help customers, contingent on the product they have, including minimum payment assistance, deferred loan assistance, and fee suppression. Strongly encourages customers to use Capital One’s digital tools and other resources for self-service banking and 24/7 account access to make payments, view transactions, check balances, find an ATM and more.
Centennial Bank
Need assistance with something?
Our team members are available to help you
Monday to Friday 7am – 7pm CT / 8am – 8pm ET
Saturday 8am – 2pm CT / 9am – 3pm ET.
888-372-9788
CenterState Bank
Loan Assistance and Payment Forbearance: We are reviewing our lending relationships and are actively reaching out to those existing customers most in need to understand their situation better. While we always want new customers, our first commitment is to our current relationships, and we are managing our resources accordingly. As we reach out, we are acutely aware of those businesses that have sustained a rapid reduction in cash flow. Therefore, we have re-opened our forbearance program for existing borrowers that may have difficulty making loan payments as a result of the disruption to their businesses due to COVID-19. Because our relationship managers are trusted financial advisors backed by local presidents, we can make quick decisions and deliver focused financial advice in cash flow management, marketing, communications, contingency planning, and strategy. If an existing customer needs additional assistance, we will work with you and available government programs to try to make that capital available as quickly as possible.
Chase
- If you can continue making your mortgage payments, you should do so.
- If you need help with your mortgage payment, you can call us at 1-800-848-9380 with questions or sign in to send us a secure message.
- If you are in the military and have been activated to respond to a disaster, you may be eligible for additional benefits. Please call our military services hotline at 1-877-469-0110.
Citi Group
Will offer assistance to affected customers in the U.S. through a range of measures, including fee waivers for Citibank customers, hardship programs and additional small business support, such as extended banker availability. Individual and small business customers affected by COVID-19 may be eligible for the following assistance, effective Monday, March 9, 2020, for an initial 30 days.
- Retail Bank: Fee waivers on monthly service fees; waived penalties for early CD withdrawal.
- Small Business: Fee waivers on monthly service fees and remote deposit capture; waived penalties for early CD withdrawal; bankers available after hours and on weekends for support.
- Has “always on” assistance programs for eligible credit card customers, including credit line increases and collection forbearance programs.
- Will provide $15 million to support COVID-19 related relief activities globally, including $5 million directed to the COVID-19 Solidarity Response Fund, $5 million directed to No Kid Hungry to support emergency Food Distribution Programs in the U.S., and $5 million directed to additional international, country-specific efforts in places that are severely impacted. In the coming weeks, the Citi Foundation will also be working to identify additional opportunities to support longer-term recovery efforts.
Fifth Third Bank
Harbor Community Bank
Liberty Savings Bank
PNC
- Auto Loan, Unsecured Installment Loan, Credit Card, Unsecured Line of Credit, Mortgage, Home Equity Loan or Home Equity Line of Credit.
- For Student Loans, you may be able to postpone payments for up to 90 days with no late fees during the postponement period. We also have loan modification options available for those who qualify. Please go to www.aessuccess.org and once logged onto your account, select “having your payments postponed” to request assistance.
Contact us by phone:
Credit Card 800-558-8472, 24 / 7
Saturday: 9 a.m. – 2 p.m. ET
888-762-2265
Regions Bank
- Penalty-free CD withdrawal legal disclaimer
- Waived fees for excessive withdrawals on all savings and money market accounts
- Other deposit account fee waivers based on your needs
- Loan and credit card payment relief, including no late fees
- Consumer mortgage payment relief upon request for 90 days
- Also not begin new efforts to repossess vehicles or start property foreclosures on consumer real estate loans for 30 days
Synovus
Providing personalized assistance to customers who have been financially impacted by coronavirus, including waiving non-sufficient funds (NSF) and monthly service charges, making loan payment relief available for 90 days upon request for consumer loan account customers, and payment deferment and loan relief on certain loans to business/commercial customers with approval of regional credit officer.
Valley National Bank
Providing relief to customers who have been financially impacted by coronavirus, including interest and principal payment deferrals, waived overdraft charges, waived penalties for early CD withdrawals for emergency needs, increased debit card and credit card limits, and increased cash available in ATM network for residential mortgage and consumer lending customers. For small business customers, offering Valley Business Credit Cards or increased lines of credit for impacted businesses, defering principal and interest payments for 90 days for qualified businesses, waiving line and overdraft fees and providing additional relief programs for commercial customers on an individual basis.
Wells Fargo
Advising customers who are experiencing financial difficulties to contact bank specialists for help regarding consumer lending, small business and deposit products. Providing assistance including fee waivers, payment deferrals, and other expanded assistance for credit card, auto, mortgage, small business and personal lending customers who contact the bank, and will continue to communicate with customers as the situation evolves.
Executive Order
Read Governor DeSantis' Executive Order No. 20-94 regarding mortgage foreclosure and eviction relief extended until Juy 1, 2020.
COVID-19 Resources
Explore business and employee resources that will help you navigate these uncertain times.
How Can We Help?
Contact Destin Wells, VP of Business Development, to see how we can help you thrive in Sarasota County.
Chairman’s Advisors
