Why is it just renters and not also people with mortgages? Will the renters eventually have to pay the back rent?
“Will the renters eventually have to pay the back rent?”
Ostensibly, yes. There is a program where the feds are funneling “emergency” assistance through the state housing authorities to renters who are in debt, paying the landlords directly for at least some of the back rent. But that only happens if the tenant applies for the program and qualifies.
So the feds are already doing a backdoor debt forgiveness on this, but it won’t cover everyone, or everything they owe. Whoever is left owing after that is done is going to have to pay, or get evicted and sent to the collection agencies.
Mortgage providers are also offering forbearance. I put both my rentals under it because my tenants claimed to be impacted by COVID. They were not, but no way to evict, so I had to do cash for keys ($6K out of pocket), and sell both houses.
Like getting blood from a stone