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Financial Services Law Insights and Observations

Virginia directs additional funds for rent and mortgage relief

State Issues Covid-19 Virginia Mortgages CARES Act

State Issues

On October 7, Virginia’s governor announced his direction of $12 million in additional funding from the federal CARES Act to Virginia’s Rent and Mortgage Relief Program. The program was first launched in June with $50 million in funding available for renters and homeowners. In September, the program began allowing landlords to apply for payments on behalf of tenants.