Jared Kushner’s family business could be a prime beneficiary of a provision in the federal recovery bill that allows owners of apartment buildings to freeze federal mortgage payments on low- and moderate-income properties.
Kushner Companies, the real estate firm started in 1985 by Kushner’s father, Charles, controls thousands of low- and moderate-housing units across the country, some of which are funded through an $800 million federally backed loan the firm received in 2019.
The option for owners to temporarily freeze mortgage payments on low- and moderate-income housing developments, in exchange for promising not to evict tenants who can’t pay their rent, was one of the economic provisions approved by Congress and signed into law by President Donald Trump last week. It is considered a way to keep lower-income apartment dwellers in their homes, but also shifted the burden of housing them from their landlords to the federal government and taxpayers. Continue reading.